Joby plans to grow Blade's operations: CEO

Joby plans to grow Blade's operations: CEO

Joby Aviation, a leading innovator in electric vertical take-off and landing (eVTOL) aircraft, has announced ambitious plans to grow Blade Air Mobility's operations. The acquisition of Blade's passenger business, valued at up to $125 million, is a pivotal move aimed at accelerating Joby's commercialization efforts [1].

The acquisition will provide Joby with immediate infrastructure and an established customer base in key urban markets, including New York City and Southern Europe. This acquisition is expected to significantly reduce customer acquisition costs and infrastructure spending, allowing Joby to focus on its core mission of delivering quiet, electric aircraft [1].

Joby's CEO, JoeBen Bevirt, highlighted the strategic importance of the acquisition, stating that it will support the launch of Joby's commercial operations in Dubai and subsequent global rollout. The integration of Blade's infrastructure and customer base will position Joby as a leader in the air taxi sector [1].

In addition to the Blade acquisition, Joby has also partnered with defense technology leader L3Harris Technologies to develop autonomous, gas turbine hybrid VTOL aircraft for military applications. This partnership opens a second, massive revenue stream for Joby, further diversifying its future prospects [2].

Looking ahead, Joby aims to leverage Blade's operational expertise and infrastructure to enhance its passenger service offerings. The integration of Joby's ElevateOS platform into Blade's systems will streamline air taxi logistics and enhance the overall passenger experience [1].

With these strategic moves, Joby is well-positioned to lead the next phase of urban air mobility, capitalizing on growing consumer interest and regulatory clarity in the sector [1].

References:
[1] https://www.inkl.com/news/joby-stock-sees-bump-after-offer-to-buy-blade-for-125-million-is-there-future-for-air-taxis
[2] https://www.marketbeat.com/originals/how-2-deals-in-48-hours-changed-everything-for-joby-aviation/