Uber to sell air taxi business to Joby Aviation

FAN Editor
FILE PHOTO: An Uber sticker is seen on Margaret Bordelon's car in Lafayette, Louisiana
FILE PHOTO: An Uber sticker is seen on driver Margaret Bordelon’s car in Lafayette, Louisiana, U.S. February 16, 2020. REUTERS/Callaghan O’Hare/File Photo

December 8, 2020

(Reuters) – Joby Aviation, an electric passenger aircraft developer, said on Tuesday it would buy Uber Technologies Inc’s air taxi unit.

Joby did not disclose the terms of the deal.

Uber has also agreed to invest a further $75 million in Joby, bringing its total investment to $125 million, the aerospace firm said.

(Reporting by Uday Sampath in Bengaluru; Editing by Shinjini Ganguli)

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