Electric air taxi developer Joby Aviation has agreed to buy Blade Air Mobility’s helicopter ride-share business for as much as $125 million.Joby is buying the Blade brand and the company’s passenger business, which includes operations in the United States and Europe. Blade founder and CEO Rob Wiesenthal will continue to lead the business, which will operate as a wholly-owned subsidiary of Joby. Blade’s medical division, which transports organs, isn’t included in the transaction and will remain a separate c ...

Group 1 - Joby Aviation's stock increased by approximately 14% following the delivery of its first electric air taxi to the UAE and the completion of piloted flight tests, with a service launch planned for 2026 [1][2] - The CEO of Joby Aviation, JoeBen Bevirt, emphasized the significance of their operations in Dubai as a crucial step towards integrating air taxi services into everyday life globally, referring to the UAE as a "launchpad for a global revolution in how we move" [2] - The planned launch in the UAE was part of an agreement with Dubai's Road and Transport Authority, which grants Joby exclusive rights to operate air taxi services in Dubai for six years, announced in February 2024 [2]

Core Insights - Joby Aviation's shares surged by 28.8% to $8.86 following the announcement of a $250 million investment from Toyota, aimed at certification and commercial production of electric air taxis [1][2] - The total investment from Toyota in Joby has reached $894 million, reflecting strong investor confidence in the air-taxi startup's future prospects [2] Company Developments - Joby successfully flew two aircraft simultaneously for the first time, marking a significant milestone in its flight-testing program [3] - The company has partnered with Delta Air Lines and Uber Technologies to launch air taxi services in New York and Los Angeles, pending FAA certification [3] - Internationally, Joby has partnered with Virgin Atlantic for services in the UK and ANA Holdings for services in Japan [4] Testing and Progress - Joby has completed over 40,000 miles of test flights, including demonstration flights in New York City, Korea, and Japan [5] - The sixth aircraft is undergoing final checks, with two others at Edwards Air Force Base for testing with defense customers [5] Strategic Partnerships - The capital injection from Toyota is intended to accelerate Joby's certification and commercial production, indicating Toyota's commitment to urban air mobility [6] - Joby and Toyota are forming a strategic manufacturing alliance to enhance production processes and design optimization [7]

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