All articles tagged with #electric aircraft
Beta Technologies, a Vermont-based electric aircraft startup, went public on the NYSE, raising over $1 billion with a higher-than-expected share price, valuing the company at over $7.5 billion. The company, founded in 2017, is developing small electric aircraft and aims to certify its first prototype by 2026 or 2027, marking a significant milestone for Vermont's tech industry.
The Trump administration announced a three-year pilot program led by the FAA to develop and test electric flying taxis through public-private partnerships, aiming to revolutionize urban transportation with companies like Joby Aviation and Archer Aviation participating in the initiative.
Joby Aviation plans to acquire Blade Air Mobility's passenger helicopter business for $125 million to expand its electric air taxi services, gaining access to Blade's infrastructure, routes, and customers as it works towards regulatory approval for its battery-powered aircraft.
Archer Aviation's stock has surged over 160% in the past year due to optimism about its eVTOL aircraft, despite having no revenue yet and facing significant operational and regulatory challenges. The company has $6 billion in pre-orders, plans to start commercial flights in 2025, and has raised $850 million, but its valuation may be ahead of its actual financial performance, making it a speculative investment with potential upside.
White House support for electric vertical takeoff and landing aircraft has boosted stocks of Joby and Archer, leading to significant gains as government backing and private investments propel the nascent industry forward, with plans for U.S. certification and commercial air-taxi services in the near future.
BETA Technologies successfully completed its first passenger-carrying demonstration flight of the electric ALIA CTOL aircraft into NYC, marking a significant milestone in sustainable urban air mobility and moving closer to commercial certification.
Beta Technologies conducted a demonstration flight of its electric aircraft from the Hamptons to JFK, marking the first of its kind to land at a NYC airport. The flight showcases the potential for quieter, more sustainable air travel, with commercial certification expected in 2027. The company aims to replace noisy helicopters with electric planes for logistics, passenger transport, and military use, addressing rising noise complaints and environmental concerns in NYC.
CES 2024 kicked off with announcements from companies like Nvidia, LG, and Samsung, featuring innovations such as autonomous trucking, defeating deepfakes, a home health tracker, personal aircraft sales, and a new startup mixing music for driving. Other highlights include Sony's mobility partnerships, Kia's modular EV van lineup, Samsung's Ballie robot, and Timekettle's real-time translator. Additionally, LG unveiled a transparent television, while Nvidia and AMD introduced new chip updates. Apple also announced the Vision Pro, and various other companies made pre-event announcements.
Japan plans to allocate 30.6 billion yen ($205 million) in subsidies to support the development of components for electric aircraft with reduced carbon dioxide emissions. The government will provide funding for hydrogen fuel cell systems for aircraft and fuel-efficient engine control systems, with 17.3 billion yen allocated for the former and 13.3 billion yen for the latter. The aim is to promote the use of electric aircraft and contribute to the reduction of CO2 emissions.
BETA Technologies has opened its new assembly facility in Vermont, where it is already producing electric aircraft. The 188,500-square-foot facility, located at the Patrick Leahy Burlington International Airport, will eventually have the capacity to produce up to 300 aircraft per year. BETA's lineup includes the ALIA VTOL (formerly ALIA-250) and the ALIA CTOL (formerly CX300), both of which are undergoing certification for commercial flights. The facility's opening marks an important milestone for BETA as it moves into the production phase of its electric aerospace business.
Joby Aviation has achieved a major milestone by rolling out its first electric vertical takeoff and landing vehicle (eVTOL) from its pilot production plant in California. The eVTOL, which received a special airworthiness certificate from the FAA, marks a significant step towards commercializing Joby's air taxi service by 2025. The company has already flown over 30,000 miles on pre-production prototypes and is now working towards type certification with the FAA. Joby's partnership with Toyota, its largest external investor, has been instrumental in the development of the eVTOL, and Toyota's president and CEO of North America, Tetsuo Ogawa, will join Joby's board of directors.
California-based startup Magpie Aviation is developing an aero tow system to provide a zero-emission solution to the challenge of providing enough range for electric and other aircraft without over-penalizing payload. The system involves tethering electric and other aircraft to an all-electric tow aircraft to extend their range by hundreds of miles. Magpie plans to scale up the aero tow system gradually to the point at which, by 2030, regional turboprop-size aircraft could be pulled in everyday commercial service by electric tow aircraft.
United Airlines plans to launch an air taxi service in 2025 that will transport passengers from the Illinois Medical District on the Near West Side of Chicago to O'Hare International Airport in just 10 minutes using electric aircraft built by Archer Aviation. The cost of the service has not been disclosed yet.