Joby Aviation, Inc. (JOBY) on Monday said it has entered into a definitive agreement to purchase helicopter operator Blade Air Mobility, Inc.’s (BLDE) urban air mobility passenger business, allowing it immediate market access across urban corridors in New York City and Southern Europe.

Joby Aviation just made a major move in the race to launch air taxis, and it could reshape emergency transport too. Here's who the manufacturer acquired to position itself for future advancement. #Day

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.