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Uber seek options including partial sale for Uber Elevate

Uber Technologies Inc is seeking options for its Uber Elevate business, including either “a strategic partnership or a partial sale”, reports citing multiple sources. The move reflects CEO Dara Khosrowshahi’s “obsession with achieving profitability”, the report added.

This alleged decision reflects Khosrowshahi’s need for profitability, evidenced by a partial sale of Uber’s money-losing freight and self-driving units. The company’s goal is to develop a network of self-driving taxis, with its website suggesting a launch year of 2023.

It also had a helicopter service running in New York City, but suspended those operations during the pandemic. The unit has around 80 employees.

The report states Uber has declined to comment.

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