Uber offloads air taxi division to Joby Aviation

December 11, 2020
The Future of Mobility
Acquisition More...
by Chad Goldberg
Very important

The California-based eVTOL developer has agreed to acquire Uber Elevate, the shared mobility company's outfit established in 2016 to facilitate the future of urban air mobility. The deal will see Joby acquire all of the division's assets and includes an additional $75 million investment from Uber. This announcement, on top of the news of Uber ditching its autonomous vehicle group, makes it clear that Uber does not desire to waste resources owning any of the transportation assets that its applications intend to support. This is the right decision, as the company is able to keep skin in the game in the form of equity and partnerships, and will maintain a path to future platform integration without unnecessary spending.

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