US aerospace developer acquires Uber’s air taxi enterprise

The company plans to offer an affordable, quiet and clean transportation solution using an electric jet with a range of up to 150 miles and a top speed of 200mph

US aerospace company and electric passenger jet developer, Joby Aviation, has announced it will take over Uber‘s air taxi enterprise, Uber Elevate.

The firm plans to operate an affordable, quiet and clean transportation service using the electric jet which has a range of up to 150 miles and a top speed of 200mph. The company said it has spent ten years on the development of the jet.

Uber has agreed to invest a further $75 million (£55.9m) in the California- based company, bringing its total investment to $125 million (£93.2m).

The partners will integrate their services into each other’s apps, enabling integration between the ground and air travel for customers.

JoeBen Bevirt, Joby Aviation’s Founder and Chief Executive, said: The team at Uber Elevate has not only played an important role in our industry, they have also developed a remarkable set of software tools that build on more than a decade of experience enabling on-demand mobility.

“These tools and new team members will be invaluable to us as we accelerate our plans for commercial launch.”

Dara Khosrowshahi, Chief Executive Officer of Uber, commented: Advanced air mobility has the potential to be exponentially positive for the environment and future generations.

“This deal allows us to deepen our partnership with Joby, the clear leader in this field, to accelerate the path to market for these technologies. We’re excited for their transformational mobility solution to become available to the millions of customers who rely on our platform.”

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