Joby Aviation's Bold Move in the Sky: Acquiring Blade Air Mobility

Joby Aviation will acquire Blade Air Mobility's passenger business for up to $125 million to accelerate its electric air taxi operations. Blade's medical division will remain separate, focusing on medical transport. Joby aims for FAA certification of its eVTOLs, with commercial services beginning soon after the transition phase.

In a strategic move to advance its electric air taxi operations, Joby Aviation announced plans to acquire Blade Air Mobility's passenger business at a cost of up to $125 million. The acquisition is seen as a pivotal step in strengthening Joby's position in the burgeoning eVTOL market.

The deal, however, excludes Blade's medical organ transplant division, which will continue as an independent entity under the new name, Strata Critical Medical. Joby and Strata plan to collaborate on medical transportation in the future, further cementing Joby's commitment to innovative air mobility solutions.

CEO JoeBen Bevirt emphasized the importance of this acquisition as a way to integrate Blade's existing customer base, infrastructure, and decade-long experience into Joby's operations. This transition is expected to facilitate the introduction of eVTOL technology to a broader market and expand the reach of clean, quiet air travel.

(With inputs from agencies.)