Uber sells loss-making flying taxi division to Joby Aviation
by Rupert Neate from on (#5BE9H)
Elevate disposal follows sale of autonomous vehicle division as Uber aims for profit
Uber has sold its loss-making flying taxi division, Elevate, to a Californian startup as it 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, Advanced Technologies Group (ATG), to the startup Aurora Innovation for $4bn (3bn).
Continue reading...