Joby Aviation Inc. said it plans to buy the helicopter rideshare business of Blade Air Mobility Inc. for as much as $125 million in stock or cash as the electric aviation firm seeks to expand its battery-powered air taxis into a ready-made market for its aircraft.

Joby Aviation Inc. said it plans to buy the helicopter rideshare business of Blade Air Mobility Inc. for as much as $125 million in stock or cash as the electric aviation firm seeks to expand its battery-powered air taxis into a ready-made market for its aircraft.

Joby Aviation agreed to acquire Blade Air Mobility’s passenger division for up to $125 million. Blade, a New York-based air-transportation and logistics company, on Monday said its medical division will remain public and rebrand as Strata Critical Medical following the close.

Joby Aviation is buying Blade Air Mobility's urban air taxi business for up to $125 million, giving it a base of loyal passengers as it begins to gradually replace conventional helicopters with quieter electric air taxis.

Joby Aviation Inc said it plans to buy helicopter ride-share operator Blade Air Mobility Inc for as much as $125 million in stock or cash as the electric aviation pioneer seeks to expand its battery-powered air taxis into a ready-made market for its aircraft.

Electric taxi maker Joby Aviation (NYSE:JOBY) confirmed intentions to acquire Blade Air Mobility's (NASDAQ:BLDE) passenger business for up to $125 million, payable in Joby stock or cash. This acquisition includes Blade's US and European passenger operations,

Joby Aviation will acquire helicopter ride-share company Blade Air Mobility's passenger business for up to $125 million, Joby said Monday, as it works to speed the deployment of electric air taxis for commercial passenger services.