JOBY moves to acquire Blade's passenger business for up to $125 million, aiming to scale urban air mobility and cut costs.

Joby Aviation will acquire helicopter ride-share company Blade Air Mobility's passenger business for up to $125 million, Joby said Monday, as it works to speed the deployment of electric air taxis for commercial passenger services.

Joby bolsters its future electric air taxi operations by snapping up Blade’s facilities, operations, and customers.