Startup Joby eyes Uber's air taxi operations

After raising $700 million in funding from investors like JetBlue, Intel, and Toyota, Joby is in serious talks to purchase Uber Elevate, the rideshare company's air taxi service. Uber suspended its New York City air taxi operations earlier this year amid the pandemic.

In the Bay Area, Uber Advanced Technologies Group is the 10th largest employer among autonomous vehicle tech companies. Their electric aircraft can travel up to 150 miles on a single charge and reach speeds of 250 mph. Joby and Uber partnered last year and announced they would roll out their autonomous air taxi service by 2023.