uber copterUber definitely shook up the transportation industry when it first launched, providing users with an alternative to taxis. In some cases, it was a much-welcome change as in some parts of the world, taxis were starting to charge pretty crazy prices, with some not even bothering to follow the meter.

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The company later expanded on its business where they decided to explore the possibility of offering air taxi rides, but it seems that the company’s air taxi adventure has come to a close. In an announcement, Uber has sold off its air taxi business to Joby Aviation, although it seems to be a mutual exchange of sorts where Uber will be investing $75 million in Joby and the acquisition of Uber Elevate will be part of the deal.

According to JoeBen Bevirt, founder and CEO, Joby Aviation, “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.”

Joby is currently aiming for a commercial launch of its service in 2023, although how much it will cost for a ride and whether or not there is a demand for such services remains to be seen.

Filed in Transportation. Read more about . Source: jobyaviation

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