Uber Technologies negotiating to divest air taxi unit Uber Elevate

Uber Technologies is in advanced talks to sell “Uber Elevate”, its air taxi business, to aerospace firm Joby Aviation said sources familiar with the matter at hand.

Uber did not immediately respond to requests for comments.

With the news reaching the market, Uber’s shares rose by more than 6%.

Earlier this year in January Hyundai Motor Co had announced a partnership with Uber Elevate to develop electric air taxis.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s