Latest news with #flyingtaxis
Arabian Business
2 days ago
- Business
- Arabian Business
Air taxis in Saudi Arabia: Abdul Latif Jameel and Joby Aviation sign $1bn future transport deal
A business group in Saudi Arabia will partner with a futuristic US aviation firm on a $1bn deal to bring flying taxis to the Kingdom. The groundbreaking electric aircraft partnership will see Abdul Latif Jameel team up with Joby Aviation to explore a distribution agreement for electric vertical take-off and landing (eVTOL) aircraft. The potential deal, valued at approximately $1bn, could deliver up to 200 aircraft in the coming years, marking a pivotal step in Saudi Arabia's clean transportation ambitions. Flying taxis in Saudi Arabia The announcement builds on the deepening economic ties between the United States and Saudi Arabia, with both nations investing heavily in next-generation, sustainable infrastructure. Joby Aviation, known for its piloted, all-electric aircraft designed to carry four passengers at speeds of up to 200 mph, represents the forefront of urban air mobility. With zero operating emissions and significantly reduced noise levels, Joby's aircraft are poised to redefine short-distance travel. JoeBen Bevirt, Founder and CEO of Joby Aviation, said: 'This collaboration is about bringing America's leadership in electric air mobility to the world. Together with Abdul Latif Jameel, we're not just imagining a cleaner, safer, more efficient future—we're building it. And there is no better partner to help unlock the extraordinary opportunity for air travel in the region.' Hassan Jameel, Vice Chairman, Saudi Arabia, Abdul Latif Jameel, said: 'Saudi Arabia is transitioning toward a new era of mobility – one that is on-demand, shared, connected, and sustainable. eVTOL is an exciting and important component of this. 'We are looking forward to collaborating with Joby to support the transformation of the Kingdom's mobility sector. This collaboration also comes as Abdul Latif Jameel Motors marks 70 years of distributing Toyota in Saudi Arabia — a strategic investor in Joby.' Joby's collaboration with Abdul Latif Jameel will initially focus on Saudi Arabia, where Abdul Latif Jameel has an extensive presence, network and deep operational experience. The two businesses will work together to explore distribution and sales collaborations, the launch of local air taxi services, including the establishment of aftermarket services such as MRO (Maintenance, Repair, and Overhaul), and pilot training. Joby's piloted, all-electric aircraft is designed to carry four passengers at speeds of up to 200mph, offering high-speed mobility with a fraction of the noise produced by helicopters and zero operating emissions. Joby Aviation aims to launch its first commercial passenger flights in Dubai by 2026, with expansion into Saudi Arabia envisioned soon after. The deal also reflects Abdul Latif Jameel's broader investment strategy in future mobility. The Jameel family previously invested in Joby's Series C funding round, led by Toyota Motor Corporation in 2020.
Yahoo
5 days ago
- Business
- Yahoo
Where Will Archer Aviation Be in 3 Years?
Archer Aviation is a leader in the emerging flying taxi industry, developing electric vertical takeoff and landing vehicles (eVTOLs). The company has completed its manufacturing facility in Georgia and is working on deploying early fleets of its aircraft in the UAE. Archer aims to expand its operations to major U.S. cities, leveraging existing helicopter infrastructure to facilitate quick travel to airports. 10 stocks we like better than Archer Aviation › Flying taxis are poised to revolutionize urban travel, and Archer Aviation (NYSE: ACHR) is at the forefront. Archer develops cutting-edge electric vertical takeoff and landing vehicles (eVTOLs), or flying taxis, and plans to launch its service in the United Arab Emirates as early as this year. Archer is working toward certification in the U.S. and ramping up its manufacturing capabilities. It's also forming partnerships with cities and airlines to ensure that its flying taxi service takes flight. The technology is still in its early stages, and the next few years are crucial for its success. Here's what the next three years could have in store for Archer Aviation. Archer Aviation is making good headway with its air taxi business. Last year, the company finished construction on its 400,000-square-foot manufacturing facility in Covington, Georgia, where it plans to build 10 of its Midnight aircraft this year. With the help of Abu Dhabi Aviation, Archer plans to launch its air taxi service later this year in the United Arab Emirates. It also plans to deploy small fleets of its Midnight aircraft to early adopters, like the UAE, over the next 18 to 24 months. Archer has secured design approval for its first hybrid heliport in the UAE. The General Civil Aviation Agency has approved the design to help transform the Abu Dhabi Cruise Terminal helipad into a hybrid heliport for helicopters and eVTOL aircraft. Once complete, this will be the first hybrid heliport available for early commercial and air taxi operations in Abu Dhabi. Archer hopes that operations in the UAE are just the beginning. The company has its sights set on the U.S. market over the next few years. For example, the company wants to begin operations in New York City and released its vision for the air taxi service in April. In a partnership with United Airlines, Archer plans to enable passengers to travel from Manhattan to nearby airports in just five to 15 minutes using its Midnight aircraft. "With its existing helicopter infrastructure, regulatory support and strong demand, New York could be one of the first markets for air taxis in the United States," Archer CEO Adam Goldstein said. The company also aims to establish an air mobility network in Los Angeles with a similar goal: connecting customers to airports, thereby significantly reducing travel time. Archer's network would include vertiports at key locations such as Los Angeles International Airport (LAX), Orange County, Santa Monica, Hollywood Burbank, Long Beach, and Van Nuys. Its goal is to begin operations in New York and Los Angeles, potentially as early as next year. Additionally, it has been selected as the official air taxi of the 2028 Los Angeles Summer Olympic and Paralympic Games. However, before commercial operations in the United States begin, the company must get its Type Certification from the Federal Aviation Administration. In February, the FAA awarded Archer its Part 141 certificate, formally recognizing it as a regulated institution for pilot training. This is the third of four certificates the company has been waiting for from the FAA to launch operations. It is awaiting type certification for its Midnight aircraft, which will be the final certification before it can begin commercial operations in the U.S. It expects to get this certification sometime this year. While it's still early on to make solid projections, analysts covering Archer Aviation project revenue and earnings per share to look like this over the next few years: Metric 2025 2026 2027 2028 Revenue (in millions) $17 $144 $437 $1,100 Earnings per share ($0.93) ($0.89) ($0.84) ($0.43) In March, J.P. Morgan analyst Bill Peterson warned investors that commercialization is proving to take longer and be less lucrative than imagined. Peterson said he believed that 2025 was likely off the table, as the rollout in the UAE is proving to be different from what was expected. However, Archer Aviation management told investors during its May earnings call that it remains on track to launch in the UAE later this year with plans to deliver a piloted Midnight aircraft to the region this summer. That said, if its launch is pushed back in the UAE or other key areas, it would impact the timing of its revenue. For this reason, investors should closely monitor Archer's cash burn rate, particularly since it is still not generating any meaningful revenue. The good news is that Archer increased its cash balances by $196 million in the first quarter and has over $1 billion in liquidity. Archer Aviation is a rising company in an emerging industry that is still in its early stages of development. There remains debate around how much the urban air mobility market may be worth. Not only that, but investors also face risks related to the timing of certifications, production, and the rollout of commercial operations. The company is well capitalized today, so its cash runway isn't an immediate concern. However, a delayed timeline could extend its cash burn, which could weigh on the stock if it needs to continue raising capital. Investing in Archer Aviation may not be suitable for all investors. It's pre-revenue, and its growth story is still in the early innings. If you buy the stock, treat your investment in Archer as a speculative growth play and only risk a portion of your portfolio that you are comfortable with on this high-risk and potentially high-reward stock. Before you buy stock in Archer Aviation, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Archer Aviation wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. 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The Independent
29-05-2025
- Business
- The Independent
Britain's first-ever flying taxi takes to the skies – and you could be using one very soon
The prototype VX4 electric aircraft is the first of its kind to complete a cross-country trip from the Cotswolds in normal airspace outside of test conditions in European aviation history. Developed by Bristol-based start-up Vertical Aerospace, the vehicle is capable of carrying one pilot and four passengers, and can reach speeds of up to 150 mph across a distance of 100 miles. Last month, the government announced £20 million of funding to make the use of commercial drones and flying taxi services a reality. The Department for Transport (DfT) and Civil Aviation Authority (CAA) will be supported by the new Regulatory Innovation Office, which aims to cut red tape to ensure new technology reaches the public sooner. Chief test pilot Simon Davies said: 'Taking the aircraft beyond the airfield and cruising over the Cotswolds for the first time was truly special and a career highlight for me. 'Our performance predictions were absolutely spot on, and the aircraft took off as a natural extension of all the ground tests and preparation we've done. There are aircraft which are safe and capable but not always enjoyable to fly. 'The VX4 was not only safe but was an absolute pleasure. It is responsive, smooth, simple to operate and the sound level from the propellers is quiet and pleasant in the cockpit. An honour to fly, and a real testament to the incredible team behind it.' Industry experts believe the flying taxis could improve connectivity across the UK, with a journey from Brighton to Heathrow estimated to be just 20 minutes. In March, US company Joby Aviation announced its collaboration with Virgin Atlantic which aims to offer 'seamless, zero-emission, short-range journeys across the UK', starting with hubs at Heathrow and Manchester Airport. Joby's electric air taxi is designed to carry a pilot and up to four passengers at speeds of up to 200mph. Labour MP Alice Macdonald raised a scheme by Norwich Airport that aims to 'make East Anglia the heart of aviation innovation' and invited the transport minister to 'take a flight on an electric plane'. Transport minister Mike Kane stressed to MPs earlier this month the government's commitment to "maximise the benefits of future flight technologies, including flying taxis'.
Daily Mail
28-05-2025
- Business
- Daily Mail
Britain's first air taxi takes to the skies: Electric aircraft that carries one pilot and four passengers at 150mph has successful Cotswolds test flight
Britain's first ever flying taxi has taken to the skies at 150mph as the government propels its plans to take the service mainstream by 2028. The prototype VX4 vehicle flew one pilot and four passengers on a cross-country trip over the Cotswolds following its launch at the region's airport runway. Flown by pilot Simon Davies and developed by Bristol-based Vertical Aerospace, the journey marked the first time the plane had flown in normal airspace outside of strict test conditions. It comes as the government last month announced £20 million of funding for the Civil Aviation Authority (CAA) to make flying taxis a reality. Later this decade, humans could hail the Uber-style trip on flying taxis and be transported distances much quicker than traditional cars on the ground. Flying taxis could travel through the air almost without stopping – a blessed relief from the start-stop nature of ground-based taxi trips. Under the proposals, a journey from Liverpool to Leeds would take just 26 minutes, compared with an hour and a half in a car. Brighton to Heathrow would come in at 20 minutes, which currently takes four times as long by car. The aircraft, which can hit speeds of up to 200mph, are expected to generally make journeys more than three times quicker than by car and are touted as cheaper, greener, quieter and more accessible than helicopters. Mr Davies said: 'Taking the aircraft beyond the airfield and cruising over the Cotswolds for the first time was truly special and a career highlight for me. 'Our performance predictions were absolutely spot on, and the aircraft took off as a natural extension of all the ground tests and preparation we've done.' Vertical Aerospace is among a cluster of companies developing the innovative transport mode which is able to ferry passengers in quiet, zero-emissions aircraft in or between urban areas. Rivals have tried something similar in Dubai and the US but the organisation's flight is the first time a flying taxi has performed a journey in open airspace in Europe. Previously, the startup carried out a hover test of its aircraft in January. The electric vehicle is designed to take off vertically or on a runway, held in a hovering pattern by its propellers or tilted to operate more like a traditional aircraft. Founded by Stephen Fitzpatrick, the Ovo Energy entrepreneur, Vertical Aerospace has received millions of pounds in UK government funding to develop the flying taxi, in addition to the tens of millions of pounds from private investors. The VX4's next major test flight will test its capabilities of cruising using its wings, as well as building on its its vertical take-off capabilities The aircraft has capacity to carry one pilot and four passengers, offering a range of speeds and mileage. The VX4's next major test flight will test its capabilities of cruising using its wings, as well as building on its its vertical take-off capabilities. Earlier this year, the start-up received a £70m bailout from Mudrick Capital, a US investment fund, as Mr Fitzpatrick ceded control of the business as part of the rescue plan. The business explained it had cash reserves of £65m following the deal but fresh funding was still needed to avoid running out of money within a year.
South China Morning Post
21-05-2025
- Business
- South China Morning Post
Chinese drone maker EHang sees flying taxis take off by 2030 on the mainland
Flying taxis could be used for public transport within the next five years on the mainland, according to a senior executive of Chinese passenger drone maker EHang Holdings. Advertisement 'I believe that by 2030, China will likely have fixed-route air shuttle services,' chief financial officer Conor Yang said in an interview on Tuesday. 'It's also possible that in some cities, with sufficient infrastructure such as take-off and landing points, air taxi services could emerge.' The Nasdaq-listed developer of electric vertical take-off and landing (eVTOL) aircraft for urban air mobility and joint venture partner Hefei Heyi Aviation in March became the first companies in the world to receive certification from the Civil Aviation Administration of China (CAAC) to operate autonomous passenger drones. Yang said EHang was conducting trial flights in Guangzhou and Hefei to collect and analyse data before it starts operating in designated areas in these two cities by the end of this year. The Guangzhou-based company has received certification for its twin-passenger EH216-S aircraft, which has a top speed of 130km/h and a range of 30km. 08:18 Flying taxis, airships and drones: the rise of China's low-altitude economy Flying taxis, airships and drones: the rise of China's low-altitude economy The EH216-S is available for 2.39 million yuan (US$331,000) on Chinese e-commerce platform Taobao. Advertisement 'We are seeing strong interest in our services overseas, particularly in the Middle East, Southeast Asia and even Latin America,' Yang said. He said EHang was in discussions with Thailand's civil aviation authorities to operate eVTOLs in designated areas in the country after it completed its maiden passenger flight in Bangkok in November.
