The federal electric vehicle (EV) tax credit expires at midnight, ending a 17-year policy pillar that helped close the price gap with gasoline vehicles and turbocharged adoption; the immediate fallout is likely softer demand, leaner EV production, and a strategic pivot by legacy automakers toward hybrids and profitable ICE (internal combustion engine) nameplates, while stopgap leasing workarounds cushion some of the blow. The end of the subsidy is a structural shock already rippling upstream: Battery make ...

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Core Insights - Joby Aviation announced the acquisition of Blade Air Mobility's passenger business for up to $125 million, enhancing its market presence and operational capabilities [1][3] - The acquisition provides Joby with access to urban markets, a loyal customer base, and a decade of operational knowledge, which will support its electric air taxi business launch [3][4] - Joby also formed a strategic partnership with L3Harris Technologies to develop hybrid VTOL aircraft for military applications, with flight testing expected to begin this fall [4][5] Company Developments - Joby Aviation's stock has surged nearly 100% over the past month, reflecting investor enthusiasm for the VTOL sector's growth potential and favorable market conditions [6] - Joby shares rose by 19.6% to $20.53, while Blade Air Mobility shares increased by 27.6% to $4.82 on the announcement day [6] Market Context - Blade Air Mobility is recognized for its urban helicopter ride-share service, having served over 50,000 passengers in 2024, which adds significant value to Joby's acquisition [2] - The partnership with L3Harris is aimed at leveraging dual-purpose technologies developed in collaboration with the Department of Defense, indicating a strong focus on military applications [5]