Flying Taxis: The Future of Urban Mobility?

Toyota Invests $500 Million in Joby to Boost Air Mobility

Flying taxis may have gotten scrapped at the Paris Olympics due to certification concerns, but that hasn’t stopped Toyota from pumping more money into air mobility. The Japanese giant has invested an additional $500 million in Joby, the California-based company that pioneered the first-ever test flight of an air taxi over the skies of New York City.

The Future of Air Taxis

Joby’s electric air taxi is designed to carry a pilot and four passengers at speeds of up to 200 miles per hour. The company is also exploring the possibility of autonomous operation, promising a faster, quieter, and cleaner (free of carbon emissions) mobility service compared to traditional ground transportation.

Air Taxis: A Growing Market

The air taxi market is expected to be massive, with the ground taxi service and e-hailing market estimated at $500 billion globally. According to consulting firm McKinsey, over 20% of people currently using these ground services can “definitely imagine” hopping on flying taxis. With companies like Hyundai and China’s XPeng HT Aero also vying for a share of the market, it’s no wonder Toyota is investing big in Joby.

Partnerships and Plans

Joby has also partnered with Delta Air Lines to offer air taxis as a perk for its travelers, while United Airlines is partnering with Archer Aviation. In addition, Joby is working towards commercial operations in the United Arab Emirates, with plans to start services in Dubai as early as 2025.

Challenges Ahead

While air taxis hold immense promise, safety and certification processes remain the biggest hurdles to overcome. The canceled Olympic flight of Germany’s Volocopter demonstrated the importance of getting these details right. However, Toyota’s investment in Joby, along with its resources and expertise, could be a game-changer in getting air taxis off the ground.

Image: Joby Aviation’s Electric Air Taxi

With Toyota’s backing and Joby’s innovative approach, the future of air mobility looks brighter than ever. As the company continues to push the boundaries of what’s possible, it’ll be exciting to see where this technology takes us.