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Uber sells loss-making flying taxi division to Joby Aviation

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December 09, 2020 at 04:23PM

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Decision over Elevate comes after ride-hailing app ditched efforts to make self-driving car

Uber has sold its loss-making flying taxi division, Elevate, to a Californian startup as the ride-hailing app abandons costly side projects in an attempt to turn a profit next year.

The sale to Joby Aviation, announced late on Tuesday, comes a day after Uber ditched ambitions to develop its own self-driving car and sold its autonomous vehicle division to Advanced Technologies Group (ATG) to the startup Aurora Innovation for $4bn (£3bn).

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