Electric Air Taxis on the Horizon: Reality or Fantasy
AVIATION & AIRPORTS

Electric Air Taxis on the Horizon: Reality or Fantasy

The concept of electric-powered air taxis ferrying commuters over congested roads is edging closer to reality, shedding its sci-fi aura. Thanks to advancements in battery technology, electric vertical takeoffs and landings (eVTOLs) - aircraft that can mimic helicopters near the ground but function like small planes - are making strides. However, the looming question remains: is there a profitable business model in their production?

JoeBen Bevirt, a staunch advocate for this emerging industry, serves as the founder and CEO of Joby Aviation Inc. The California-based company, with Toyota as its largest shareholder (holding 11%), recently delivered its first eVTOL to the Air Force. Bevirt is resolute in his belief that Joby Aviation can achieve the ambitious goal of commencing commercial air taxi operations by 2025. Nevertheless, like many other eVTOL startups, Joby is grappling with financial losses, having reported over $400 million in deficits from 2021 to 2022. Analysts, meanwhile, remain uncertain about the timeline for profitability, if it ever materializes.

The concept of electric-powered air taxis ferrying commuters over congested roads is edging closer to reality, shedding its sci-fi aura. Thanks to advancements in battery technology, electric vertical takeoffs and landings (eVTOLs) - aircraft that can mimic helicopters near the ground but function like small planes - are making strides. However, the looming question remains: is there a profitable business model in their production?JoeBen Bevirt, a staunch advocate for this emerging industry, serves as the founder and CEO of Joby Aviation Inc. The California-based company, with Toyota as its largest shareholder (holding 11%), recently delivered its first eVTOL to the Air Force. Bevirt is resolute in his belief that Joby Aviation can achieve the ambitious goal of commencing commercial air taxi operations by 2025. Nevertheless, like many other eVTOL startups, Joby is grappling with financial losses, having reported over $400 million in deficits from 2021 to 2022. Analysts, meanwhile, remain uncertain about the timeline for profitability, if it ever materializes.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

Hindalco Baphlimali Mine Secures ASI Certification

Hindalco Industries has announced that Utkal Alumina International Limited’s Baphlimali Bauxite Mine in Rayagada district, Odisha, has achieved Aluminium Stewardship Initiative (ASI) Performance Standard V3.1 certification.With this achievement, Baphlimali has become the first bauxite mining operation in India to secure ASI Performance Standard V3.1 certification.The certification covers planning, mining, onsite crushing and conveyor transportation of bauxite from the mine, which has an annual production capacity of 8.5 million tonnes. The mine supplies bauxite to Utkal Alumina’s refinery ..

Next Story
Infrastructure Urban

Hindustan Zinc Builds Young Leadership Pipeline

Hindustan Zinc is strengthening its next-generation leadership pipeline, with 10% of the company’s leaders now under the age of 35.The company said more than 62% of its workforce is under 35, while its gender diversity ratio stands at 26.3%. Young professionals are taking on roles across mining, manufacturing, technology, sustainability and business leadership.Over the past two fiscal years, Hindustan Zinc has hired nearly 700 young professionals. This includes 335 campus recruits in FY26 through its VLDP, GET, PGET and MT programmes from leading institutions across India.Amarendu Prakash, C..

Next Story
Infrastructure Urban

Vedanta Metal Bazaar Expands to International Markets

Vedanta Aluminium Metal Limited has expanded its flagship digital e-commerce platform, Vedanta Metal Bazaar (VMB), to international markets, enabling overseas customers to order and buy aluminium products online.The platform will now serve customers across Asia, Europe, Africa and the Americas. International buyers will gain access to more than 1,000 aluminium product variants along with simplified price booking, live LME-linked hedging and digital transaction management.Vedanta Metal Bazaar processed transactions worth nearly $4.1 billion, or over Rs 38,000 crore, in FY26 and fulfilled more t..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement