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Malaysia Sun
11 hours ago
- Business
- Malaysia Sun
Letter from China: Dream of
by Xinhua writer Li Yilin SHANGHAI, June 18 (Xinhua) -- If a city could speak, Shanghai would regale you with a story of dramatic change. As one of China's key economic and tech hubs, visitors have the opportunity to experience all the latest innovations here. However, the sight of an aircraft with gull wings still took me by surprise when its developer was showcasing a futuristic aerial taxi concept -- that is now coming soon. The sleek, silver-white actual version of the E20 electric vertical take-off-and-landing (eVTOL) aircraft occupied almost the entire demonstration hall at Shanghai TCab Technology Co., Ltd. in Minhang District -- a breeding center for Shanghai's sci-tech industries. Noting that it represents China's bold leap into the third dimension of mobility, TCab's Vice President and Brand Director Xu An pointed to the aircraft and declared proudly, "It is the future of urban transportation." As Xu gestured toward the cockpit, she invited me to sit in it. The touch of the console and the smell of the genuine leather seats were so vivid, but felt surreal -- 40 minutes ago, I was taking a normal taxi from downtown Shanghai to TCab. But now, I was boarding this "air taxi," which could apparently make the same journey in less than 20 minutes and would be more comfortable. TCab was founded in 2021, when China's low-altitude economy was revving up for a rapid takeoff, with eVTOL aircraft emerging from the tech buzz to capture national attention at breakneck speed. The company's Chinese name translates to "Time Taxi." It aims to create a green, sustainable digital urban air mobility ecosystem, providing safe and convenient air travel services. At the heart of TCab's innovation is the E20 eVTOL -- a five-seater all-electric aircraft. It boasts a range of 200 kilometers and speeds of up to 320 kilometers per hour, and will cost just four yuan (about 56 U.S. cents) per passenger-kilometer -- comparable to a premium taxi ride, but five times faster. In just four years, TCab completed its B+ round of strategic financing. The maiden flight of the E20 prototype was completed in 2023, and the model is set to obtain its airworthiness type certification in 2027. This year, TCab began construction on its assembly plant in Anhui Province, with planned completion in 2026. The company plans to produce 200 eVTOLs annually, and so far 500 orders have been secured either at home or abroad. I was amazed at TCab's rapid accomplishments. This would not have been possible without the persistence of Yon Wui NG, former chief engineer of Airbus China and now CEO of TCab. Yon has turned the concept of three-dimensional transportation -- his childhood dream -- into a reality. In fact, leading eVTOL companies in China such as Ehang Intelligent and AutoFlight have achieved phased results. "What does TCab rely on to stand out?" I asked Yon. He answered my question by demonstrating the tilt-rotor mechanism of the E20, which features rotors that tilt between vertical lift and forward thrust. When the eVTOL takes off, the rotor has a vertical lift and then rotates parallel to generate forward thrust, accelerating the aircraft, he explained. Compared with other multi-rotors in the market, the E20 has significantly reduced energy consumption, achieving faster speeds, a longer range and a greater payload capacity, he added. This innovation also solves one aviation dilemma: noise. The E20's tilt-rotor design optimizes power efficiency, making it quieter and more affordable. Overjoyed at the future aerial taxi, I can't help but ponder why Yon, who is Malaysian-Chinese and has stellar international experience in the industry, chose China to be the birthplace of TCab. Speaking Mandarin with a Southeast Asian accent, Yon earnestly explained why it "has to be China." Yon revealed that while eVTOLs from other countries are typically sold for over 4 million U.S. dollars, TCab offers its eVTOL at a selling price of around 2 million U.S. dollars. China's unique ecosystem fuels this progress. "China's leadership in EV batteries and drone algorithms, and the complete supporting supply chain brought by the delivery of China's C919 large passenger aircraft in 2022, gives us a competitive edge," he said. "As an aviation professional, I would never have imagined that the aviation industry could also witness a wave of dramatic change," Yon said. "There is a 'Made in China' advantage we're proud of." Government support is crucial. China's first-mover advantage in its low-altitude economy pilot program -- especially in the Yangtze River Delta -- has ensured the development and construction of both the upstream and downstream sectors of the industry. "The first-mover advantage has afforded us more room for innovation to refine the aircraft, allowing it to enter the market through iterative improvements, gradually," Yon said. In December last year, Shanghai Low-altitude Economic Industry Development Co., Ltd. was established, aiming to promote the construction of supporting facilities, guide social capital investment, and improve the industrial ecosystem for the low-altitude economy. "I can see that local governments in many places are making overall plans and setting up special teams to connect with us. The improvement in efficiency is quite obvious," Yon said. But while government-backed infrastructure and policy frameworks lay the groundwork, the true measure of success lies in democratizing technology. When I bluntly asked if eVTOLs were just high-end toys for the elite and whether they would become accessible to everyone, Yon did the math for me: plans are in place for the E20 to be mass-produced and put into use in 2027. In its future development, the company will focus on expanding the eVTOL's passenger capacity to nearly 20 seats, further reducing the average transaction value from the current four yuan per kilometer so that more population groups can afford to ride in it. Meanwhile, TCab plans to advance the commercialization of urban air mobility services in three phases. Firstly, tourism and sightseeing scenarios will be its entry point, focusing on tour routes in the Yangtze River Delta region. Then it will expand to intercity transportation networks, opening cross-city routes. The third phase will achieve short-distance rapid shuttle functions within urban areas. Looking to the future, Yon said that the company has established overseas branches in Malaysia and Singapore, and it will also deploy in the Middle Eastern market. Yon refers to himself as a bridge for Malaysia-China friendship. The young man who left Malaysia to pursue his aviation dream has now frequented home with pride, bearing the fruits of his achievements in China -- transportation solutions that promise convenience for his fellow Malaysians and the world at large. "I have envisioned it numerous times: people traveling to Semporna or other beautiful islands in Malaysia aboard our E20," he said. At the end of the interview, on a whim, I asked Yon: If he had the chance to write two letters to himself, one 10 years ago and the other 10 years from now, what would he say? "To my younger self: Hold fast to your belief. To my future self: Do not forget your original aspiration," he replied. (Xinhua's correspondents Yi Ling in Beijing and Xu Xiaoqing in Shanghai also contributed to this story.)
Yahoo
27-03-2025
- Business
- Yahoo
TCab Tech Secures B+ Round Funding to Accelerate Commercialization of E20 eVTOL in Low-Altitude Economy
SHANGHAI, March 27, 2025 /PRNewswire/ -- TCab Tech, a pioneer in the development of electric vertical takeoff and landing (eVTOL) aircraft, today announced the successful completion of B+ round financing. The round was co-led by Grand Neo Bay Venture Capital and Chiforturne Venture Capital, both capitals will provide strategic support to the company bolstering the company's commercialization efforts in the low-altitude economy across Shanghai and the Yangtze River Delta region. To date, TCab Tech has raised around $100 million in total funding. Being the first Chinese company specializing in tilt-rotor eVTOL configuration, TCab Tech has solidified its eVTOL advancement by becoming the nation's first eVTOL developer which has completed the certification basis (G1 Issue Paper) with the Civil Aviation Administration of China (CAAC) in December 2024. This milestone accelerates the certification process for its E20 eVTOL, which is poised to redefine urban and regional mobility. The E20 eVTOL, designed for efficiency and safety, boasts cutting-edge features that set it apart in the global market: Speed and Capacity: With a maximum speed of 320 km/h and a payload capacity for 1 pilot plus 4 passengers, the E20 eVTOL significantly reduces intercity travel time. Tilt-Rotor Technology: The aircraft's tilt-rotor design combines vertical takeoff capabilities with efficient fixed-wing cruising, enabling higher speed and superior energy efficiency compared to multi-rotor or lift+cruise counterparts. Advanced Charging and Safety: Equipped with an 800V ultra-fast charging system, the E20 eVTOL enables rapid turnaround times. Its safety is reinforced by redundant systems, including a six-rotor configuration and Cell-to-Wing (CTW) battery integration, ensuring higher safety level even in critical scenarios. Low Noise and Sustainability: Optimized low-noise propellers and pure electric solution align with global decarbonization goals, making the E20 eVTOL an eco-friendly urban mobility solution. The new funding will drive TCab Tech's industrialization plan and further strengthen partnerships to develop vertiport infrastructure and regional air routes. Investors will also contribute expertise in low-altitude economy policies and cross-industry resources, positioning the company to dominate the Yangtze River Delta's emerging aerial mobility market. Contact: media@ Website: View original content to download multimedia: SOURCE TCab Tech
