Joby Aviation Soars with Acquisition of Blade's Passenger Business

Joby Aviation is making significant strides to revolutionize air travel by acquiring Blade Air Mobility's passenger business. This strategic move, announced Monday, is valued at up to $125 million and is set to expedite the rollout of electric air taxis for commercial services.

Notably, Blade's Medical division is not included in the acquisition and will continue to operate independently under the new name Strata Critical Medical. The division, however, will collaborate with Joby Aviation to enhance medical transportation.

The acquisition encompasses all of Blade's passenger operations in the U.S. and Europe. Joby will pay up to $125 million, including $35 million dependent on performance milestones and the retention of essential employees.

(With inputs from agencies.)