Latest news with #Volocopter
Digital Trends
15-05-2025
- Business
- Digital Trends
Archer's flying taxis head to LA for the 2028 Olympics
Remember the buzz about flying taxis zipping through Paris for the 2024 Olympics? That sci-fi fantasy never got off the ground —Germany's Volocopter dream was denied certification, leaving fans staring at the same old ground traffic. But now, the skies are opening again for a second shot at glory—this time over Los Angeles. Archer Aviation, the California-based electric vertical takeoff and landing (eVTOL) company, has been named the exclusive air taxi provider for the 2028 Los Angeles Olympic and Paralympic Games. Recommended Videos Archer's Midnight aircraft, a piloted electric air taxi designed to carry four passengers, will be whisking around VIPs, fans, and stakeholders between venues and key locations like LAX, Hollywood, Santa Monica, and even Orange County. Think 10-20 minute flights that skip the infamous LA gridlock and land you right where the action is—on the roof, basically. 'We want to transform the way people get around Los Angeles and leave a legacy that shapes the future of transportation in America. There's no better time to do that than during the LA28 Games,' said Adam Goldstein, CEO and founder of Archer Aviation. And Midnight isn't just a pretty rotor. It's a whisper-quiet, emission-light aircraft with 12 rotors and a redundant, airline-level safety design. What's more, Archer and LA28 are working together to electrify vertiport hubs around the city—think futuristic sky stations—to serve not only Games-time needs but also to plant seeds for a post-Olympic air mobility network. The air mobility market has been fast developing over the past few years, featuring the likes of Hyundai partnership with China's XPeng HT Aero and Toyota's backing of Joby Aviation, a U.S. venture. Joby bought Uber Elevate in 2020, hoping to someday pair its air taxis with Uber's ride-hailing app. Archer, for its part, has been busy building a strategic partnership with United Airlines, which has already placed orders for the aircraft and is helping with logistics to integrate air taxis into airport-to-downtown travel. More than a demo for the cameras, the LA28 partnership will showcase urban air travel for real-world daily use, starting with one of the most high-profile events on Earth. After raising false hopes in Paris, the air taxi dream is aiming for liftoff in LA—and this time, it might just stick the landing.
The National
22-02-2025
- Business
- The National
German air taxi developer Lilium files for insolvency again after funding options fail
German air taxi developer Lilium Aerospace has filed for insolvency for a second time, saying that it has failed to secure funding and casting doubt on its ability to fulfil orders. The company, which had initially entered administration in October, said in a brief statement that 'funding options to secure Lilium's future have not materialised in time', forcing it to file for insolvency. 'While talks about alternative solutions are still ongoing, the chance [of] restructuring right now is highly unlikely and therefore operations will be stopped,' the statement said. '[Given] the situation, this is deeply regretful for all employees and Lilium Aerospace thanks them for their resilience and dedication.' Lilium, based in Bavaria, has been developing electric vertical take-off and landing (eVTOL) jets, a new class of EV designed to take off, hover and land vertically, much like a helicopter. They are powered by electric propulsion systems, making them eco-friendly and quieter than helicopters. The company completed test flights of the world's first electric flying taxi jet in 2017. The eVTOL market was hyped for its capabilities and support for achieving sustainability goals, but some makers have hit turbulence. In December, air taxi maker Volocopter filed for bankruptcy, citing financial difficulties. The company, also based in Germany, plans to develop and enact a 'restructuring concept' by the end of February, it added. UK-based Vertical Aerospace sought emergency funding last year, shortly before Lilium's first insolvency. In November, Rolls-Royce pulled out of the electric flying taxi sector after chief executive Tufan Erginbilgic signalled the British engineering firm would focus on profitable contracts. It is unclear what Lilium's next steps are, or what the insolvency means for signed agreements to supply jets. In July last year, aviation conglomerate Saudia Group signed a binding agreement with Lilium to buy 50 eVTOLs. The agreement included an option to buy another 50 jets, and Saudia expected to receive the first jets in 2026. The jets would have had cabin capacity for up to six passengers, plus luggage room. That followed Saudia's initial agreement with Lilium, in October 2022, to buy 100 Lilium aircraft for its domestic network. Lilium had touted the 'tremendous opportunities' in the Middle East, particularly the GCC, where the development of megacities calls for ways to minimise traffic and slash carbon emissions. The company had made waves, earning backing from Saudi Arabia's Future Investment Initiative Institute. In 2021 the institute invested in Lilium as part of a $3.3 billion transaction that helped the company list on the Nasdaq Composite in New York. Former Airbus chief executive Tom Enders joined Lilium's board in the same year.
