Although some people may argue that a startup should build growth and brand awareness in one market segment before expanding into others, Joby Aviation (JOBY) appears determined to strike while the iron is hot and grab market share wherever it can.
As one of the buzziest names in the nascent electric vertical takeoff and landing (eVTOL) aircraft space, Joby has recently looked to target both the defense sector and the high-end luxury passenger market – before it’s even launched its first commercial flight service
Its latest move is not so much another pivot as it is an extension of its push into the luxury space.
In August, Joby acquired Blade Air Mobility (BLDE) – an urban air mobility passenger business in the U.S. and Southern Europe, giving it access to customers in the richest 1%.
As Andrew Ross Sorkin wrote in the DealBook newsletter, Blade has “become synonymous with services to beat traffic to get to ritzy locations” for its wealthy clientele. A one-way helicopter flight from Manhattan to the Hamptons can cost nearly $1,200 per seat.
Blade flew more than 50,000 passengers in 2024 from 12 urban terminals in the U.S., with New York City as its flagship market. The company operates dedicated lounges and terminals at JFK, Newark, and multiple locations across Manhattan, including Wall Street.
Booking air taxis on the largest rideshare app in the world
And now Uber Technologies (UBER) has said that it plans to bring Blade’s air mobility service to its app as soon as next year. Although Joby’s eVOTL fleet is still in development, Blade operates a helicopter-based air taxi service, allowing Uber to add it to its app now.
Joby has said that it will gradually transition Blade’s “large, loyal base of passengers from conventional helicopters to next-generation Joby aircraft,” which the company expects will reduce infrastructure spending and lower customer acquisition costs.
Joby and Uber have been partnering on urban air mobility efforts since 2019, and the former acquired the latter’s Elevate division in 2021.
“Integrating Blade into the Uber app is the natural next step in our global partnership with Uber and will lay the foundation for the introduction of our quiet, zero-emissions aircraft in the years ahead,” Joby founder and CEO JoeBen Bevirt said in a statement.
“Together with Uber’s global platform and Blade’s proven network, we’re setting the stage for a new era of air travel worldwide.”
Joby’s stock has surged 64.1% this year.
Andrew Macdonald, president and COO of Uber, said in a statement that Joby would be “harnessing the scale of the Uber platform” to deliver “the next generation of travel to customers.”
Meanwhile, the U.S. Department of Transportation said in June that the Federal Aviation Administration is working with regulators in Australia, Canada, New Zealand, and the United Kingdom on developing an Advanced Air Mobility (AAM) strategy to innovate air travel through the development of air taxis.
“eVTOLs and all kinds of futuristic advanced air mobility vehicles will redefine how we transport goods and people,” U.S. Transportation Secretary Sean Duffy said at the time. “As we’ve done for decades, the United States is working with our great international partners to bring about this revolution in flying safely.”
Joby is aiming to launch its air taxi service in Dubai, New York, Los Angeles, the United Kingdom and Japan.
Your email address will not be published. Required fields are markedmarked