Blade and Joby stocks soar after $125 million rideshare deal — is this the future of flying taxis?
FILE PHOTO: An electric air taxi by Joby Aviation flies near the Downtown Manhattan Heliport in Manhattan, New York City, U.S., November 12, 2023. REUTERS/Roselle Chen/File Photo
Tired of too many ads?
Remove Ads
Joby Stock and Blade Stock Surge After $125 Million Deal to Reshape Urban Air Travel
Blade's Medical Transport Arm to Spin Off Into New Public Company
Blade Has Been Struggling Financially Despite Growth
Tired of too many ads?
Remove Ads
Joby Gains Infrastructure as It Prepares for Commercial eVTOL Flights
FAQs
In a bold move signalling the accelerating race toward airborne urban transport, Blade Air Mobility and Joby Aviation saw their stocks surge Monday morning after announcing a $125 million deal that could reshape the future of city travel, as per a report.Blade's stock jumped nearly 30%, while Joby rose over 5%, after revealing that Joby will acquire Blade's helicopter passenger rideshare business, which currently whisks busy New Yorkers to destinations like the Hamptons or nearby airports with speed and convenience, as reported by Yahoo Finance.The agreement excludes Blade's medical transport unit, which will be spun off into a new public company called Strata Critical Medical, according to the Yahoo Finance report.ALSO READ: Tesla in turmoil? Elon Musk admits he could be ousted, slams claims of loan ties to stock Blade will now become a wholly owned subsidiary of Joby, with Blade founder and CEO Rob Wiesenthal continuing to lead its passenger transport operations, as reported by Yahoo Finance.The move comes at a time when Blade, despite flying over 50,000 passengers in 2024 across 12 terminals, has struggled to achieve profitability since its public market debut via SPAC in 2021, according to the report. Prior to today's rally, Blade shares were down 11% year to date and down about 60% from its peak, as reported by Yahoo Finance.ALSO READ: Steelcase stock skyrockets after $2.2 billion HNI buyout — what it means for investors More than just a strategic acquisition, the deal marks a clear sign of where urban mobility is headed. Joby Aviation, a $14.4 billion firm backed by Toyota, is pioneering electric vertical takeoff and landing aircraft (eVTOLs) that could one day become the backbone of flying taxi services, as per the report.For Joby, the acquisition adds real-world infrastructure and experience to its ambitious timeline. The company is working toward FAA certification and plans to have five aircraft in the final phases of approval by 2026. It aims to begin commercial battery-powered electric vertical takeoff and landing aircraft eVTOL flights as soon as next year, according to the report.Joby aims to begin commercial eVTOL service as early as 2026, pending FAA certification, as per Yahoo Finance report.Blade's founder and CEO Rob Wiesenthal will continue to lead its passenger operations.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mint
4 days ago
- Mint
No more traffic jams in Tokyo? ANA to launch electric flying taxis in Japan by 2027
Japanese airline All Nippon Airways (ANA) is preparing to introduce electric air taxis in Japan through a partnership with California-based start-up Joby Aviation, with operations targeted to begin as early as 2027. The two companies announced plans on Thursday to establish a joint venture that aims to deploy over 100 electric vertical take-off and landing (eVTOL) aircraft. The five-seater aircraft, intended to carry a pilot and up to four passengers, can travel at speeds of up to 320 kilometres per hour. According to ANA, the initial routes under consideration would connect major transport hubs such as Narita and Haneda airports with central Tokyo. Currently, these journeys typically take over an hour by train or car. The proposed air taxi service could cut this time to roughly 15 minutes. While pricing details have not yet been finalised, ANA told AFP that it hopes to make the service affordable to a broad range of passengers. The first public flight demonstration is expected to take place during the Osaka Expo in October 2025. The aircraft are designed to lift off vertically like helicopters before transitioning to forward flight, similar to aeroplanes. Joby Aviation has stated that its aircraft will operate with minimal noise and produce zero emissions while in use. Joby's founder and chief executive, JoeBen Bevirt, described Japan as a promising location for launching the next generation of air mobility, citing the country's combination of tradition and technological ambition. The announcement comes amid a mixed outlook for the emerging flying taxi sector. In December 2024, German start-up Volocopter filed for insolvency. The company had been developing a two-seater model called Volocity, which was due to debut in 2025. However, Volocopter was forced to cancel planned test flights during the Paris Olympics after failing to obtain the necessary certification for its aircraft engine in time. Another German firm, Lilium, narrowly avoided collapse around the same period after facing financial difficulties. The success of the ANA-Joby partnership will depend on several factors, including regulatory approvals, public acceptance, and the development of take-off and landing infrastructure across urban areas.
Time of India
4 days ago
- Time of India
Electric 'air taxis' could debut in Japan from 2027
Airline ANA said Thursday that, together with a US start-up, it hopes to have electric "air taxis" whizzing over Japan from as early as Thursday that the aircraft, designed to carry a pilot and up to four passengers at speeds of up to 200 mph (320km/h), could be in service from as early as 2027. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Airline ANA said Thursday that, together with a US start-up, it hopes to have electric "air taxis" whizzing over Japan from as early as and California-based Joby Aviation said they will establish a joint venture with a view to deploying more than 100 of the five-seater taxies will "revolutionise our air mobility", Koji Shibata, president and CEO of ANA, said in a statement ANA spokesman told AFP on Thursday that the aircraft, designed to carry a pilot and up to four passengers at speeds of up to 200 mph (320km/h), could be in service from as early as project primarily envisages trips between Narita and Haneda airports and Tokyo, although the routes can diversify in the a car or train ride between central Tokyo and Narita typically takes an hour or longer, but Joby's five-seater can shorten this to around 15 minutes, ANA are no price details yet, but ANA wants to make the service as affordable as possible for the general public, a spokesman told and Joby will make a public flight demonstration of the vehicles at the Osaka Expo in October."Where ancient wisdom, legendary craftsmanship and soaring ambition converge -- that's Japan", said JoeBen Bevirt, founder and CEO of Joby Aviation."And that makes it an extraordinary launchpad for redefining the future of air mobility".Joby's aircraft lift off like a helicopter, then transition to fly forward like a plane "with minimal acoustic impact and zero operating emissions", according to the December, flying taxi startup Volocopter said it was filing for insolvency, days after another German company in the field, Lilium, was saved from had been aiming to enter the market in 2025 with its two-seater "Volocity" electric air taxi suffered a setback when it had to cancel test flights in Paris during this summer's Olympics at short notice after the certification for its aircraft engine didn't come through in time.
Time of India
7 days ago
- Time of India
Watch: Robot walks into Rolex store in New York, leaves people stunned
A humanoid robot named KOID, developed by a Chinese firm, caused a stir on Fifth Avenue by interacting with people and even trying on a Rolex watch. This PR stunt, promoting a new AI ETF, sparked fascination and fear among onlookers. The event ignited discussions about the increasing role of AI and robotics in society. On an otherwise regular day on Fifth Avenue, New Yorkers encountered a scene that looked straight out of a sci-fi film: a humanoid robot casually strolling past storefronts, waving to pedestrians, and even walking into a Rolex boutique to try on a watch. Meet KOID, a humanoid robot developed by a Chinese robotics firm. Retailing at approximately $100,000 or INR 800,000 the robot quickly drew crowds and viral curiosity, not just for its realistic movements, but for the human-like way it interacted with the world around it. The unusual scene was part of a marketing campaign by a company promoting their new Global Humanoid and Embodied Intelligence Index ETF. The American partner of the company documented robot's outing on Instagram, including a now-viral clip where the robot steps into a Rolex store and is assisted by a sales representative while trying on a Rolex GMT-Master II with a blue bezel and black dial. The gesture, so mundane for a human, looked uncannily natural on the robot, prompting both fascination and alarm. Fascination meets fear The spectacle quickly became a social media sensation, with NewYorkers Live capturing on-the-ground reactions. A young girl described the robot as 'cool' but cautiously added, 'as long as they don't take over the world.' Others were more apprehensive. One man said he found it 'scary' and wouldn't want it near his children. There were also humorous takes, one passerby joked, 'Is the robot getting paid as much as I am?' Of course, the inevitable Terminator comparisons surfaced too. 'It's giving Judgment Day,' someone quipped, referencing the Hollywood franchise where machines rebel against their creators. But not all reactions were dystopian. One observer pointed out the positive possibilities, likening KOID to other helpful machines we already rely on - trucks, elevators, even smartphones. 'It's still just a machine,' he said. 'If it helps reduce our daily burden, why not?' The bigger picture While the PR stunt succeeded in going viral, it also opened up larger conversations about the growing presence of AI and robotics in everyday life. With humanoid robots getting eerily close to human dexterity and social intelligence, how we choose to integrate or regulate their role remains a question for both policymakers and the public. But for now, robot's walk down Fifth Avenue stands as a surreal reminder that the future is not coming. It's already here, wearing a Rolex.
