Joby Aviation (Santa Cruz, Calif., U.S.), a transportation company developing an all-electric, vertical take-off and landing passenger aircraft, which it intends to operate as early as 2023, announced on Dec. 8 that it has acquired air taxi service Uber Elevate from Uber Technologies Inc. (San Francisco, Calif., U.S.). As part of the transaction, Uber Technologies has agreed to invest a further $75 million in Joby, expanding the partnership between the two parent companies. This investment comes in addition to a previously undisclosed $50 million investment made by Uber as part of Joby's Series C financing round in January 2020.