All Aboard Air Taxis!

Are one of these players the next Tesla?

May 03, 2024

Fun fact - In May 1927, Charles Lindbergh, completed the first non-stop solo transatlantic flight. He flew his single-engine plane from New York to Paris (3,610 miles) in 33 hours and 30 minutes.

If he was able to do that, surely we can figure out eVTOLs.

So let’s get into it.

What you need to know in eVTOLs this week

EHang

EHang EH216-S

Looking like a scene out of Star Wars, China based EHang obtained the world’s first production certificate.

What’s the big deal?

Because even though many companies can manufacture an eVTOL aircraft, it’s usually only prototype for test flights. The production certificate is a meaningful step towards commercial flights which could be as soon as 2025 according to EHang.

Volocopter

Rough days for Volocopter. With cash running dangerously low they are telling German press they will have to “consider insolvency in the foreseeable future” if their current financial problems are not resolved.

They were looking for €300 million loan from the German state of Baden-Württemberg where they are based. After that was rejected they made a bit of a desperate play, requesting a smaller amount of €100 from neighboring Bavaria who politely declined.

Despite the funding crunch Volocopter’s claims its plan to fly the two-seater VoloCity as early as this summer’s Paris Olympics is still on track.

I wouldn’t count on it.

Joby & Archer (and the UAE)

Abu Dhabi is supporting both Archer and Joby to launch eVTOL air taxi services in the emirate.

Archer's deal locks in hundreds of millions of dollars from the Abu Dhabi Investment Office (ADIO) for operations including vertiports and in country manufacturing.

Joby signed a memorandum for air taxi operations with Abu Dhabi’s Department of Municipalities and Transport and beyond, supported by the emirate's Department of Economic Development and Department of Culture and Tourism.

Joby also inked exclusive rights for Air Taxi’s in Dubai, a seperate emirates about 80 mine north.

Hard to say how this will shake out over the next few years, but kudos to the UAE for being at the forefront of eVTOL acceptance.

Lilium

Lilium will reveal the first full-scale mockup of its four- to six-passenger eVTOL May 29 at EBACE, Europe’s premier Aviation and Advanced Air Mobility event that is in Geneva this year.

It’s a fairly big of a milestone, as most eVTOL companies haven’t gotten to the point of producing a full scale model.

They plan to start deliveries of their all-electric jet, targeting the business aviation sector, starting in 2026, after it achieves European type certification in late 2025.

AutoFlight

The Civil Aviation Administration of China (CAAC) has officially accepted AutoFlight’s application for the type certificate of their five-seater electric eVTOL.

Why does that matter?

Mainly because the number 1.4 billion. That’s how many people their are in China and its about 4x more that the US. In the world of commerce, it’s a gold mine. Many foreign companies have tried to crack it and failed - Google, Facebook, Uber, Amazon etc.

AutoFlights strategy of having a dual HQ (Europe & China) is showing early signs of paying off. If they can get to certification and start transporting the growing middle class around their congested cities, they could really become very valuable.

The Markets

Or “The Casino” if you prefer the Wall Street Bets mentality…

Just about everything is trending up a few points this week. Still a far cry from the all time highs.

Keep the long term goal in mind as things bounce around each and every week.

The Life Savings Bet

We’ve laid down a big bet in this game. $100K on Joby to be exact.

And that’s the entire bank roll.

But it’s the top of the 1st inning and we have long way to go. My hunch is there is going to be a lot of ups and downs in this game. Its going to last a several years.

There will be some tough stretches, a lot of lead changes. It’s going to be a roller coaster. So buckle in for the long haul.

So are we in the money?!

Slightly. After being down to $10K over the last few weeks, we fought our way back. Sitting just north of our break even at $103K.

Wouldn’t mind if we held tight here for a bit…

Lighten Up

Final Question

What country outside the US will have eVTOLs up and running first? — best reply gets a shoutout next week.

Best Answer From Last Week

I asked “What city to city connection should be the first to set up an eVTOL route and why?”

Best reply came from Charlotte in Brooklyn: “Anywhere except Manhattan to the Hamptons. The 1% can stick to helicopters. Let the rest of us have eVTOLs please.”

Thanks for reading and let us know what you want to see more of next week. We read every single reply.

Stay above.

— The Above Traffic Team

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