Air Taxis

Flying taxis could soon be a reality in the U.S. after the Federal Aviation Administration (FAA) issued a final rule on Tuesday that establishes a new category of aircraft called “powered lift.”  The Details: The FAA's powered lift category applies to electric vertical takeoff and...

Uber Technologies Inc (NYSE: UBER) is selling its air taxi unit Uber Elevate to Joby Aviation, the two companies confirmed in a statement Tuesday. What Happened: Joby Aviation said that the ride-hailing company will make an additional $75 million investment, as part of the merger deal....