Technology

Uber seeking options including partial sale for Uber Elevate, says Axios

Possibilities include strategic partnerships or a partial sale of the division, which has a partnership with the Brazilian EmbraerX

FILE PHOTO: A screen displays the company logo for Uber Technologies Inc. on the day of it's IPO at the New York Stock Exchange (NYSE) in New York, U.S., May 10, 2019. REUTERS/Brendan McDermid
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Uber Technologies Inc is seeking options for its Uber Elevate business, including strategic partnerships or a partial sale, Axios reported on Friday, citing multiple sources.

The move reflects Chief Executive Officer Dara Khosrowshahi‘s obsession with achieving profitability, the report added.

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Uber declined to comment on the report. Uber Elevate concentrates company initiatives for air mobility.

This past week, EmbraerX, Embraer’s innovation arm, launched a new company focused on solutions for aerial urban mobility: Eve.

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The vertical take-off and landing electric vehicle (eVTOL), also known as EmbraerX flying taxi and which made its first flight “in simulator” in July this year, is part of this portfolio. It is in this vehicle that Uber is eyeing its Uber Elevate project, which plans to put an air mobility arm into operation in 2023.