Joby Aviation buys Uber Elevate
SANTA CRUZ, Calif. (KION) Joby Aviation, a California aerospace company with offices in Santa Cruz and Marina, announced that it is expanding its partnership with Uber and bought Uber Elevate.
The company said Uber has agreed to invest $75 million in the company and this comes after a previous $50 million investment earlier this year.
Joby Aviation says it is working to develop an electric passenger aircraft, and the partnership between the two companies is intended to provide integration between ground and air travel for future customers.
The goal of Uber Elevate is to bring flight into the Uber platform and reduce the need for car ownership by offering affordable flights.
"We were proud to partner with Uber Elevate last year and we’re even prouder to be welcoming them into the Joby team today, while deepening our cooperation with Uber. 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," said Joby Aviation founder and CEO JoeBen Bevirt.
The company said its goal is to provide an affordable, quiet and clean service using all-electric, vertical take-off and landing aircraft with a range of up to 150 miles and a top speed of 200 miles.
