Joby Aviation Acquires Blade's Air Taxi Operation for $125 Million Dollars
Joby Acquires Blade Air Mobility for $125 Million, Boosting Electric Aviation Industry
In a significant move for the electric aviation industry, Joby, a leading manufacturer of electric vertical takeoff and landing (eVTOL) aircraft, has announced its acquisition of Blade Air Mobility for $125 million. The deal, expected to close in the coming weeks, grants Joby access to Blade's infrastructure, routes, and customers.
Blade, a platform connecting passengers with helicopter and jet services, will bring a wealth of resources to Joby. Notably, Blade's jet service will be included in the sale, expanding Joby's offerings beyond eVTOLs. The acquisition is set to create synergies that will enhance urban air mobility, reduce operational costs, and boost sustainability in aviation.
JoeBen Bevirt, Joby's founder and CEO, stated that Blade's infrastructure will serve as a launchpad for accelerating the scale-out of Joby's passenger service. Rob Wisenthal, Blade's CEO and founder, will join Joby and continue running Blade.
Joby's eVTOL aircraft, which resemble both a helicopter and a small plane, feature six propellers that enable vertical takeoff and landing, followed by forward flight. The eVTOL has a range of up to 100 miles before needing to recharge, making it suitable for Blade's short-distance routes in New York and southern Europe.
The acquisition aligns with pivotal industry developments that are expected to accelerate electric aviation's commercial viability and scale, especially in urban air mobility. The first air taxis could potentially be certified in the U.S. as early as next year, marking a significant milestone for the industry.
The electric aviation industry is gaining traction, driven by increasing demand for cleaner, quieter, and more efficient aircraft propulsion technologies. Regulatory and government support, such as the FAA's Electric Aircraft Safety and Sustainability Initiative, are laying the groundwork for expanded safe operation of electric aircraft and Urban Air Mobility (UAM) services.
The aviation industry is embracing automation, AI, and sustainable fuel technologies alongside new aircraft designs like eVTOLs, setting the stage for transformative urban air transportation solutions. New bipartisan bills focused on integrating unmanned and innovative flight technologies in the U.S. could further incentivize deployments and infrastructure needed for UAM and electric aviation growth.
Joby's acquisition of Blade is a strategic move that positions the combined entity as a key player in advancing electric aviation's potential to reduce emissions, lower costs, and transform urban transport. The company plans to launch commercial networks in the UAE before 2026.
Joby's share prices have rocketed 66 percent this year, reflecting investor confidence in the company's innovative technology and strategic growth. The acquisition of Blade is expected to further boost Joby's growth and position it as a leader in the electric aviation industry.
[1] [Source 1] [2] [Source 2] [3] [Source 3] [4] [Source 4] [5] [Source 5]
- This significant acquisition by Joby, a leader in electric aviation, of Blade Air Mobility for $125 million indicates a growing interest in the industry.
- The electric aviation industry is seeing an increase in demand for cleaner and more efficient aircraft propulsion technologies, spurred by regulatory and government support such as the FAA's Electric Aircraft Safety and Sustainability Initiative.
- Joby's acquisition of Blade will not only enhance urban air mobility but also extend Joby's offerings into the jet service sector, amplifying the company's presence in the transportation industry.
- The advancements in the electric aviation industry, such as the development of eVTOL aircraft and the imminent certification of air taxis, are attracting investors, as reflected in Joby's 66% rise in share prices this year.
