Electric air taxis are nearing launch. Here’s how to invest.

You could be flying above traffic to the airport in an electric air taxi for the same cost as an Uber , Joby thinks they can be first to market in the crowded space. However, regulatory approval remains a key hurdle. The Federal Aviation Administration thinks a competitive, scaled air taxi market could launch in at least one location by 2028.

All I want you to do is pull back with your right hand. That will make you go up. Just pull back hard. Yep. There you go. Now you're flying.We're not actually flying above the Statue of Liberty. That's a simulator from Joby Aviation, which is used to train traditional pilots on how to fly this battery-powered aircraft. With the backing of Toyota and Delta, it's one of the largest companies looking to bring battery-powered air taxis to market.

But first up, getting cleared to fly. A representative from the Federal Aviation Administration told Yahoo Finance that while eVTOLs could launch commercially as early as 2025, 2028 could be more realistic, at least for scaled and competitive market. The FAA's Innovate 28 Initiative outlines requirements for launch. That includes hitting certain safety criteria and flying under a variety of conditions. It's the same approach applied to traditional aviation.

Uber isn't the only major company getting in on the action. Toyota invested nearly $400 million into Joby, and Delta invested 60 million. Archer, Joby's biggest competitor, has a $1 billion conditional order from United Airlines and raked in $150 million from Stellantis, as well as some well-known investors, including Cathie Wood via her ARK Innovation ETF, and serial entrepreneur Mark Laurie.

Regardless of the business model or investors, some common obstacles exist for all eVTOL companies, including infrastructure and adoption of the over 6,000 heliports in the country. New York City is poised to be the first to transition one into a vertiport for eVTOLs. The effort is not cheap, though. One firm's model suggests costs could range anywhere from 3.5 million to 12 million for leading global city. Of course, that depends on a variety of factors like size and location.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

China to challenge Biden's electric vehicle plans at the WTOBEIJING (AP) — China said Tuesday that it has filed a complaint at the World Trade Organization over US subsidies for electric vehicles. The Chinese Commerce...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

China to challenge Biden's electric vehicle plans at the WTOBEIJING (AP) — China said Tuesday that it has filed a complaint at the World Trade Organization over what it says are discriminatory requirements for American subsidies for electric vehicles. Starting this year, U.S.
Source: SooToday - 🏆 8. / 85 Read more »

Hybrid electric truck maker sees a future in TerraceBut first it needs a building rezoned
Source: TerraceStandard - 🏆 24. / 68 Read more »

Hawaiian Electric Drops as GOP Seeks More Details in Fire ProbeHouse Republicans asked Hawaiian Electric Co. to answer additional questions and provide more documents as part of their probe into the utility’s role in last year’s deadly Lahaina wildfire.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Stellantis lays off about 400 salaried workers to handle uncertainty in electric vehicle transitionDETROIT (AP) — Jeep maker Stellantis is laying off about 400 white-collar workers in the U.S. as it deals with the transition from combustion engines to electric vehicles.
Source: SooToday - 🏆 8. / 85 Read more »

Celine Dion Surprises Boston Bruins Game With Electric Rock 'N' Roll Cameo In CrowdBen Blanchet is a reporter based in New York City. His work has been featured in the New York Post, Insider and The Buffalo News' Sun newspapers. He was born and educated in Upstate New York.
Source: HuffPostCanada - 🏆 61. / 53 Read more »