Joby Aviation, the world leader in electric vertical take-off and landing (eVTOL) technology, took a giant step forward with a surprising announcement. They intend to purchase Blade Air Mobility’s passenger business. This strategic acquisition will increase Joby’s hold on the emerging urban air transportation market. It will build on top of Blade’s existing passenger routes across the U.S. and Europe.
Founded in 2009 by JoeBen Bevirt, Joby went public in 2021 via a merger with Reinvent Technology Partners. Backed by automotive giant Toyota, Joby has dedicated over a decade to developing its eVTOL aircraft, which aims to revolutionize commercial taxi services in urban environments. With the integration of Blade’s operations, Joby is clearly in the driver’s seat to scale and deploy its services rapidly and across a broader range of markets.
Blade Air Mobility was founded in 2014 by Rob Wiesenthal. While the company is heavily focused on the future of on-demand air transportation, it doesn’t actually own any planes. Instead, it opens up access to flight service, featuring the busiest route in the world, Nice, France to Monaco, and strong origins in Saint-Tropez. In 2024 alone, Blade successfully transported more than 50,000 passengers, showcasing its capacity to meet rising demand for urban air travel.
The acquisition agreement covers Blade’s brand and passenger operations. Current Blade CEO Rob Wiesenthal will remain in his position and continue to run Blade as a wholly-owned subsidiary of Joby. Blade’s urban air mobility services will now be added to Joby’s other existing passenger service offerings. This transition represents a change from conventional helicopters to electric air taxis and emphasizes Joby’s commitment to sustainability and sustainable innovation.
As part of the acquisition agreement, Joby is withholding $35 million of the total purchase price. This money will be disbursed based on Blade hitting certain performance milestones and Blade maintaining its key employees. This requirement highlights Joby’s approach plan to making a successful transition and maintaining operational success following the acquisition.
The acquisition underscores Joby’s ambition to become a dominant player in the nascent urban air mobility sector. It highlights a fast-growing revolution toward more sustainable transportation solutions. With cities still struggling with the stark realities of traffic congestion and harmful emissions, eVTOL aircraft would offer a smart, efficient choice for commuters.