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Top 10 Flying Vehicle Stories of 2024
Test flights of air taxis, manufacturing progress and financing deals drew high reader attention during the year
5 Min Read
Eve Air Mobility
From large financing deals to announcements and innovations, 2024 was the year that put flying vehicles on the map. Readers were highly interested in the progress air taxi makers were making and the details of new flying vehicles coming to market.
Here are the most read flying vehicles stories in 2024.
1. Flying Vehicle Completes Hundreds of Test Flights
Canadian eVTOL (electric vertical takeoff and landing) vehicle maker Horizon Aircraft has completed hundreds of flight tests with its large-scale prototype that takes off vertically and then flies like a normal plane.
The Horizon, seven-seater Cavorite X7 is a hybrid eVTOL vehicle being developed and scheduled for completion in 2026.
2. Flying Car Company Starts Manufacturing Plant; 10,000 Units a Year
XPeng Aeroht in China has started construction of a large-scale flying car manufacturing plant designed to produce 10,000 flying vehicles a year.
The plant in Guangzhou, China, is scheduled to produce the air module of the modular flying car Land Aircraft Carrier.
XPeng Aeroht earlier this year introduced the Land Aircraft Carrier, a combination road vehicle with a flying component.
3. Flying Taxi Startup Powers Electric Jet for First Time
Electric vertical takeoff and landing (eVTOL) jet maker Lilium completed the first systems power-on test of its MSN1 electric jet.
For the test of the first in-production Lilium jet, high-voltage was applied to the flying vehicle and converted for the low-voltage avionics systems to power the cockpit display, flight controls, communication, navigation and surveillance systems.
The procedure is like the power-on acceptance test procedure used for conventional commercial plane manufacturing.
4. Flying Taxi Company Gets $50M from Citibank
Air taxi company Eve Air Mobility has received a $50 million loan from Citibank to support the research and development program of the eVTOL (electric vertical takeoff and landing) vehicle company.
The new financing adds to the recently announced $95.6 million in equity financing from a group of industrial companies and investors in July.
Eve Air also recently secured $88 million in a loan from the Brazil National Development Bank (BNDES) to fund the development of the electric aerial vehicle (EAV) maker.
5. Flying Taxi Company Unveils 5-Passenger Vehicle
Air taxi developer Beta Technologies in Burlington, Vermont, has provided an early look at the passenger version of its fixed-wing VTOL (vertical takeoff and landing) vehicle Alia.
The electric aerial vehicle (EAV) is designed to carry five passengers and a pilot, as well as carry-on luggage.
The passenger version of the EAV is expected to launch after the Beta cargo and medical versions, which are targeted for 2025.
6. Flying Car Company Signs Manufacturing Deal
Flying car company Alef Aeronautics has signed a deal with Pucara Aero and MYC to manufacture parts for the Alef Model A flying car.
Pucara Aero is a subsidiary of a group that makes parts for Boeing and Airbus and MYC designs, manufactures and assembles parts and components for Airbus and other European aeronautical companies.
The joint venture companies manufacture different parts for civil and military airplanes, helicopters and drones.
7. Flying Taxi Company Debuts Electric Jet Vehicle in US
Electric vertical takeoff and landing (eVTOL) jet maker Lilium introduced its electric jet into the U.S. market with its debut at a Houston, Texas, airport.
The electric aerial vehicle (EAV) is being introduced by EMCJET, a Houston-based aircraft brokerage firm that plans to showcase the jet at Galaxy FBO (fixed base operator).
Lilium partnered with Galaxy FBO allowing the EAV to be featured at its Houston Hobby Airport, Conroe North Houston Regional Airport and The Woodlands Heliport.
8. Air Taxi Company Takes First Flight in Brazil; Pilotless
Chinese flying taxi company EHang Holdings flew its pilotless electric aerial vehicle (EAV) in Brazil for the first time.
The EHang EH216-S took the test flight in Quadra, near the Sao Paulo region, in partnership with its local operator Gohobby Future Technologies.
EHang and Gohobby plan to conduct test flight campaigns with Brazil’s National Civil Aviation Agency (ANAC) and Brazil’s Airspace Control Department (DECEA).
9. Flying Taxi Company Wins $20M Government Deal for Chargers
Air taxi developer Beta Technologies in Burlington, Vermont, has won a $20 million federal contract to install electric aerial vehicle (EAV) chargers in rural areas along the East and Gulf coasts.
The contract with the U.S. Department of Health and Human Services Administration for Strategic Preparedness and Response (ASPR) would allow Beta to build charging stations to enable an emergency preparedness platform for the federal department.
The Beta chargers would allow the federal department to establish a cost-effective network to deliver equipment, pharmaceuticals and patients, even in relatively remote areas.
10. Flying Vehicle Company Offered $75M Financing Deal
Vertical Aerospace, an eVTOL (electric vertical takeoff and landing) vehicle maker, has been offered a $75 million financing deal from its main creditor.
Mudrick Capital Management, which invested $200 million in the form of convertible senior secured notes in Vertical in 2021, is proposing an equity offering to fund the company into 2026, according to a Securities and Exchange Commission (SEC) filing.
As of June 30, 2024, Vertical had cash and cash equivalents of $84 million, according to the company.
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