Uber Technologies is in advanced talks to sell its air taxi business, “Uber Elevate”, to aerospace firm Joby Aviation, news website Axios reported on Wednesday, citing sources.
Uber did not immediately respond to a Reuters request for comment.
Its shares rose over 6% following the news.
Hyundai Motor Co, which in January announced a partnership with Uber Elevate to develop electric air taxis, did not immediately respond to a request for comment.
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