Uber is reported to be in advanced talks to sell its flying taxi division.
According to Axios, the talks are with Joby Aviation, a flying taxi start-up, and should be confirmed in the next few weeks. Uber has so far declined to comment to publications on the deal.
The two companies have had a relationship for some time, with Joby Aviation partnering with Uber Elevate on its air taxi service.
So far, Elevate has run a helicopter service in New York City through its platform but this was temporarily stopped during the pandemic.
While innovative paths such as air taxis were a cause for celebration before COVID-19, the current economic risk for such big ideas has made many companies shift direction.
Joby Aviation, on the other hand, is still going strong with significant investment from companies like Toyota, Intel and JetBlue. Total funding for the company sitting at nearly a billion dollars.
Its focus on autonomous flying vehicles specifically puts it in a unique bracket of having the time to think and invest rather than needing to pool resources to other areas of its business. The company has said it plans to get its taxis in the air by 2030.