Joby Aviation Acquires Blade's Passenger Business to Accelerate Electric Air Taxis

Strategic Acquisition and Business Split

• 🤝 Joby Aviation is acquiring Blade's passenger division to accelerate the commercialization of electric vertical takeoff and landing (eVTOL) aircraft.
• 🏥 Blade's largest business, medical logistics (air transport of human organs), will remain as a standalone public company renamed Strata Medical.
• 💰 This medical business accounts for about two-thirds of Blade's revenues and 88% of its cash flow.

Democratizing Aviation with eVTOLs

• 🚀 Both Joby and Blade founders share a long-term vision of democratizing aviation.
• 💡 The acquisition aims to integrate Joby's quiet, electric air taxis into Blade's existing fleet and customer base.
• ✈️ Blade's brand, customer base, and operational expertise are seen as critical for accelerating the adoption of eVTOLs.

Regulatory Momentum and Global Testing

• 📈 There is significant regulatory momentum globally, with the White House, Department of Transportation, and FAA moving faster than ever on eVTOL technologies.
• 🇦🇪 Joby has successfully conducted hot weather flights in Dubai, testing systems in temperatures over 110 degrees Fahrenheit.
• 🏙️ The goal is to begin rolling out services in Dubai next year and potentially accelerate commercialization in the US, possibly branding aircraft with the Blade name in New York.

Future of Transportation and Pricing

• ⚡ The transition to electric aircraft is driven by their quiet operation and emission-free nature, which can unlock more landing zones.
• 🚗 Similar to Tesla's evolution from luxury sports cars to mass-market vehicles, eVTOL pricing is expected to decrease over time due to fewer moving parts, less maintenance, and automation.
• 📱 Joby plans to leverage Blade's app and the acquired Uber Elevate OS technology to enhance the customer experience.

Operational Rollout and Future Services

• 🧑‍✈️ Initially, services will operate with pilots on board, with progressive levels of automation planned for the future.
• 🤝 Joby has also agreed to become the first air transporter of human organs using eVTOLs through an alliance with Strata Medical.
• 🏢 The remaining company, Strata Medical, will be led by Will Haburn (CFO) and Melissa Tomkiel (President), with Rob Wiesenthal serving as Chairman of the Board.