US-based Joby Aviation takes over Uber's air taxi business Elevate

US-based Joby Aviation takes over Uber's air taxi business Elevate

REUTERS/Luisa Gonzalez

Joby Aviation, an electric passenger aircraft developer, said on Tuesday it would take over Uber Technologies Inc’s flying taxi unit, Elevate, the second cash-burning business the ride-hailing company has sold off in two days.