Uber, the known taxi service provider, is planning on selling its air taxi business, Uber Elevate. The company is already in advanced talks to sell the unit to Joby Aviation, an aerospace based firm, as per a new report.
For those unaware, the company had been working on its air taxi unit and had even announced a partnership with Hyundai Motor Co back at the start of this year. This partnership was to develop electric air taxis. At the moment, Uber has yet to comment on the matter when reached out by Reuters. Similarly, even Hyundai did not immediately offer a comment regarding this.
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Back in May, the company had to cut 23 percent of its workforce as a part of aggressive cost cutting after its operations were drastically hit by the Coronavirus outbreak. Since then, it has focused on its core ride hailing and food delivery businesses. Thus, selling the air taxi operations might be due to its inability to manage another project at the moment. Uber has been known to have already been working on other projects as well, including development of self-driving cars, the Elevate project, and even a freight logistics network.
However, these might soon also be being sold, as Uber is also in talks to sell its self driving business as well. Unfortunately, we currently do not have further details regarding the matter and will have to wait for more information or an announcement from the company itself to know more. So stay tuned for more updates.
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