Uber Elevate Up For Sale
Uber Elevate, the company formed to develop a network of self-driving air taxis, soon could be sold to Joby Aviation, according to a report from Axios. Negotiations are underway as Uber CEO Dara Khosrowshahi looks to attain profitability for Elevate’s parent company following partial sales of the money-losing freight and self-driving units of the company.
Joby Aviation is based in Santa Cruz, CA, and has partnered with Uber Elevate to raise more than $700 million from companies such as Toyota, Intel and JetBlue.
Before the global pandemic forced a suspension of operations, Elevate had a helicopter service operating in New York City. Approximately 80 people work at Elevate.