Joby Aviation acquires Uber Elevate to expand the partnership between the two parent companies. In addition, Uber Technologies announced that it has agreed to invest $75 million in Joby to launch the future of ride-hailing successfully. Joby Aviation is a transportation company developing an all-electric, passenger aircraft.
The two-parent companies have also agreed to integrate their respective services into each other's apps. Thus, the partnership aims to enable seamless integration between ground and air travel for its users. CEO of Joby Aviation, JoeBen Bevirt, explains: "The Team at Uber Elevate has not only played an important role in our industry, but it has also developed a remarkable set of software tools that build on more than a decade of experience enabling on-demand mobility."
Image Credit: Joby Aviation