Tuesday 13 September 2022

United Airlines invests $15m in electric flying taxis manufacturer

United Airlines has announced an investment of $15 million (£12.8m) in Eve Air Mobility, which manufactures electric flying taxis or eVTOLs, i.e. electric vertical take-off and landing vehicle.

The agreement also includes a conditional purchase agreement for 200 four-seat electric aircrafts plus 200 options, with first deliveries expected in 2026.

In addition, the companies intend to work on future projects, including studies on the development, use and application of Eve's aircraft and the urban air mobility (UAM) ecosystem.

eVTOL aircrafts are designed to use electric motors, providing carbon-free flights and to be used as “air taxis” in urban markets.

With a range of 60 miles, Eve's vehicle has the potential to provide a sustainable commute and reduce noise levels by 90% compared to current conventional aircraft.

Michael Leskinen, President of United Airlines Ventures said: “United has made early investments in several cutting-edge technologies at all levels of the supply chain, staking out our position as a leader in aviation sustainability and innovation.

“Today, United is making history again, by becoming the first major airline to publicly invest in two eVTOL companies. Our agreement with Eve highlights our confidence in the urban air mobility market and serves as another important benchmark toward our goal of net zero carbon emissions by 2050 – without using traditional offsets. Together, we believe our suite of clean energy technologies will revolutionise air travel as we know it and serve as the catalyst for the aviation industry to move toward a sustainable future.”