Uber is selling its flying car project, Elevate, to Joby Aviation and is investing $75M into the company as part of the deal; terms were not disclosed (Phil LeBeau/CNBC)

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Phil LeBeau / CNBC:

Uber is selling its flying car project, Elevate, to Joby Aviation and is investing $75M into the company as part of the deal; terms were not disclosed  —  – The move will allow Joby to use Uber’s app to offer air taxi rides when the company’s aircraft eventually enters service, which could be as soon as 2023.