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☆ Stocks making the biggest moves midday: Tesla, IBM, Whirlpool, Molina Healthcare and more
▼ + stars: | 2024-10-24 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +5 min

Molina Healthcare posted adjusted earnings of $6.01 per share, better than the LSEG consensus estimate of $5.81 in earnings per share. Therefore, the company's third-quarter revenue and guidance were not comparable with Wall Street's estimates. ServiceNow posted third-quarter adjusted earnings of $3.72 per share, topping Wall Street's estimate of $3.46 per share, according to LSEG. International Business Machines — Shares tumbled about 7% after the tech giant posted third-quarter revenue that disappointed analysts' expectations. Sales for IBM came out to $14.97 billion in the last quarter, versus the $15.07 billion analysts had expected, per FactSet.

Persons: Tesla, Elon, Newmont, FactSet, Molina, CBRE, Raymond James Financial, Teradyne, Northrop Grumman, ServiceNow, Boeing machinists, — CNBC's Sean Conlon, Michelle Fox, Alex Harring, Hakyung Kim, Sarah Min Organizations: —, Molina Healthcare, Whirlpool, LSEG . West Pharmaceutical, West Pharmaceutical Services, injectables, Carrier, Northrop, Mattel, LSEG, Boeing, IBM Locations: —, FactSet

☆ Air taxi firm Lilium plunges 45% after saying main subsidiaries will file for insolvency
▼ + stars: | 2024-10-24 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

Shares of Lilium tanked Thursday after the air taxi firm said in a filing that its two main subsidiaries will file for insolvency in the coming days. The German aerospace startup's shares plunged more than 60% before paring losses to 45% following the news. Lilium was seeking to raise 50 million euros ($54 million) of loans from the state coffers, however its request was rejected by lawmakers. In all, Lilium was trying to raise a convertible loan of 100 million euros. The subsidiaries' planned insolvency filings could result in Lilium ultimately delisting from the Nasdaq Global Select Market, or having its shares suspended.

Persons: Lilium, KfW Organizations: Nasdaq, Lilium GmbH, Lilium, Company Locations: Germany, Bavaria, Bavarian, foreclosing

☆ Here are Friday's biggest analyst calls: Netflix, Nvidia, Apple, Arm, Meta, Amazon, Hasbro, Coinbase, Broadcom & more
▼ + stars: | 2024-07-19 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Friday's biggest calls on Wall Street: UBS upgrades Accenture to buy from neutral UBS said the IT services company has AI optionality. UBS upgrades Wolverine World Wide to buy from neutral UBS said it sees sales growth and margin upside for the footwear manufacturer. JPMorgan reiterates Netflix as overweight JPMorgan said it's sticking with its overweight on Netflix following Thursday's earnings report. Bank of America reiterates Amazon as buy Bank of America said it's sticking with its buy rating following Amazon's Prime Day. UBS upgrades Ameren to buy from neutral UBS upgraded the electric services company and said regulatory risks are "overly discounted."

Persons: Morgan Stanley, Oppenheimer, William Blair, it's, Needham, Coinbase, Wedbush, it's bullish, Barclays downgrades Molson Coors, Cantor Fitzgerald, Cantor, Evercore, JPMorgan, Buck, Melius Organizations: UBS, Accenture, JPMorgan, Netflix, Revenue, Bank of America, 3Q, Nvidia, Meta, NASDAQ, Trump, Vance, Big Tech, Choice, Barclays downgrades, Barclays, TAP, Apple, Services, Broadcom, Broadcom's, Consumer, Hasbro Locations: China, Coinbase

☆ Pfizer and AstraZeneca announce new investments of nearly $1 billion in France
▼ + stars: | 2024-05-12 | by ( ) www.cnbc.com time to read: +1 min

Leading healthcare companies Pfizer and AstraZeneca announced on Sunday new investments in France worth a total of nearly $1 billion, ahead of the start of this year's annual 'Choose France' business summit. Pfizer said it would invest 500 million euros ($538.5 million) in France to build up its research and development work in the country, while AstraZeneca announced an investment of $388 million for its site at Dunkirk. France announced earlier on Sunday 100 new jobs in Paris at Wall Street bank Morgan Stanley, and investments from other firms such as German aviation company Lilium . Macron wants to burnish Paris' role as a top European business capital, although it has traditionally lagged New York and London on a global scale. The survey ranked Paris in 14th position.

Persons: Emmanuel Macron, Morgan Stanley, Macron, Paris Organizations: Pfizer, AstraZeneca, Wall, New York, London Locations: France, Dunkirk, Paris, New York, London, New

☆ Inside the world of flying cars, or eVTOLs, which are moving closer to reality
▼ + stars: | 2024-04-19 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +6 min

Source: Alef AeronauticsWhat if flying around in an electric vehicle is a key part of the way you travel in the future? EVTOLs, or electric vertical take-off and landing vehicles, popularly known as flying cars or air taxis, are being developed by firms in the U.S. to Europe and Asia. Four of the most common eVTOLsAn eVTOL aircraft can take off and land vertically. From the technologies they use to take off and land to the fact they're electric, eVTOLs are trying to distinguish themselves from helicopters. While some wealthy individuals may own their electric aircraft, they will more likely be operated in fleets by an operator, as is the case with airlines.

Persons: Lilium, Jim Dukhovny, Tim Draper, EHang Organizations: Aeronautics, JPMorgan, CNBC Tech, Aviation, European Union Aviation Safety Agency, Federal Aviation Administration, Civil Aviation Administration of China, eVTOLs, Alef Aeronautics Alef Aeronautics, Alef Aeronautics, SpaceX, Theranos Locations: U.S, Europe, Asia, —, eVTOLs, United States, China, Munich, Germany, Spain

☆ Inside Lilium, the German company trying to revolutionize air travel
▼ + stars: | 2024-04-12 | by ( Arjun Kharpal | Cristy Garratt | ) www.cnbc.com time to read: +2 min

German aerospace company Lilium wants to revolutionize air travel with its electric vertical take-off and landing (eVTOL) jet. "Revolutionize means make it absolutely zero emission," Lilium CEO Klaus Roewe told CNBC Tech in an interview. "We want to make a regional plane that has a decent transport capacity to have a meaningful effect on CO2 emission reduction." Less than a decade after being founded by four university students, the group is now one of Europe's leading eVTOL companies. Lilium, which is backed by the likes of China's Tencent and Earlybird Venture Capital, has started taking orders from the premium market.

Persons: Klaus Roewe, Lilium, Roewe, China's, Daniel Wiegand, Lilium's, Wiegand Organizations: CNBC Tech, Earlybird Venture, eVTOL Aircraft Locations: Weßling, Bavaria

☆ Flying cars — or eVTOLs — are becoming reality. Would you ride in one?
▼ + stars: | 2024-04-01 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +36 min

They are flying cars, they're flying cars,Tom Chitty: These vehicles aren't necessarily actually cars with wheels, either, because I know that you've done you've got a program coming up soon about eVTOL. And the idea is there's going to be a fleet of these run by an operator. You've alluded to this feature program we've got coming out looking at the future of these, these flying cars, basically in these eVTOLs. And also, we can't finish this episode about flying cars and eVTOLs without talking about Chitty Chitty Bang Bang, the OG. Yeah, no, that's, that's very surprising.

Persons: Tom Chitty, Arjun Kharpal, who's, I've, we've, We've, I'm, they'd, I'd, there's, Arjun, that's, we're, you've, there'll, they're, You've, Kharpal, it's, you'll, They've, Morgan Stanley, someone's, What's, they've, They're, Big Ben, Chitty Chitty Bang Bang, Chitty Bang Bang, Tom, We'll Organizations: JPMorgan, CNBC, Mar, Airbus, Archer Aviation, Joby, Infrastructure, Boeing, Heathrow Airport, Civil Aviation Administration, U.S . Federal Aviation Administration, FAA, Autonomy, London, Transport Locations: Spain, China, Europe, Munich, Germany, beyondthevalley@cnbc.com, London, Chinese, Guangzhou, Birmingham, U.S, Manchester, it's, eVTOLs, Battersea, Heathrow

☆ SpaceX-backed startup says preorders for its $300,000 futuristic flying car have reached 2,850
▼ + stars: | 2024-03-04 | by ( Ryan Browne | ) www.cnbc.com time to read: +4 min

watch nowBARCELONA, Spain — Alef Aeronautics, a SpaceX-backed flying car firm, says it has reached 2,850 preorders for its futuristic electrical vertical takeoff and landing (eVTOL) vehicle. Dukhovny calls Alef's vehicle the "first flying car in history." "But we always had the idea that it has to be a car, a physical car, a regular car, as you can see it's an eVTOL, an electric car. Alef's car is mainly designed to be driven on the road, but will be able to take to the skies, too. To drive on the road, the car uses four small engines in each of the wheels, and will drive similar to a normal electric car.

Persons: Jim Dukhovny, Dukhovny, David Zorrakino, Tim Draper, Elon Organizations: Spain — Alef Aeronautics, SpaceX, Alef Aeronautics, Boeing, Airbus, Joby Aviation, CNBC, Mobile, Europa Press, Getty, SKTelecom Locations: BARCELONA, Spain, San Mateo , California, Alef, Germany, Korean

☆ Electric air transport is set to take off with taxis, ambulances, cargo deliveries by end of this decade
▼ + stars: | 2024-02-26 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +4 min

A model of a Wisk Aero LLC electric vertical takeoff and landing (eVTOL) air taxi during the Singapore Airshow in Singapore, on Wednesday, Feb. 21, 2024. Bloomberg | Bloomberg | Getty ImagesSINGAPORE — Among displays of defense jets, passenger airliners and high-tech aviation equipment at the Singapore Airshow were electric air transport vehicles — touted as the future of urban transportation. Electric vertical take-off and landing vehicles, or eVTOLs, which can land and take off vertically can be used as air taxis, for cargo delivery, medical and emergency response transportation and as private vehicles. A vertical takeoff electronic aircraft from Supernal is seen outside the Las Vegas Convention Center during the Consumer Electronics Show in Las Vegas, Nevada on Jan. 10, 2024. A cabin of an electric vertical take-off and landing (eVTOL) aircraft developed by Eve Air mobility displayed during the International Paris Air Show on June 20, 2023.

Persons: eVTOLs, Brendan Smialowski, Johann Bordais, Eve, Jaiwon Shin, Shin, Supernal's, Tencent, Catherine MacGowan, Wisk, MacGowan, Supernal's Shin, Geoffroy Van Der Organizations: Aero, Bloomberg, Getty, Singapore Airshow, CNBC, Hyundai Motor Group, Boeing, Embraer, Air Mobility, Las Vegas Convention, Consumer, Afp, Mobility, Singapore, Asia Companies, Olympic, Japan Airlines, Korea's, Korean Air, Supernal, Incheon International Airport, Eve, International Paris Air Locations: Singapore, SINGAPORE, Supernal, Las Vegas , Nevada, Asia, U.S, Brisbane, Australia, Japan, Asia —, South Korea, Korea, Incheon, South, Geoffroy Van Der Hasselt

☆ Flying taxi firm Lilium receives EU approval for its electric jets
▼ + stars: | 2023-11-27 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

Lilium, a German air taxi firm, has received regulatory approval to design and operate its electric vertical takeoff and landing vehicles, the company said Monday. Alastair McIntosh, Lilium's chief technology officer and head of design organization, said the approval is effectively a "license to operate" for the firm. "Receiving Design Organization Approval from EASA further motivates us on our path to commercialize the revolutionary Lilium Jet," McIntosh said in a statement Monday. I would like to congratulate Lilium on achieving this Design Organization Approval, which advances Europe's electric aviation activity," he added. It's a key milestone for the industry, which has been working for several years to get such vehicles ready for commercialization.

Persons: Lilium, Alastair McIntosh, McIntosh, Luc Tytgat Organizations: European Union Aviation Safety Agency, EU, Lilium Locations: German

☆ I rode in a $789,000 flying car and experienced the future of commuting. Maybe.
▼ + stars: | 2023-08-22 | by ( Tim Levin | ) www.businessinsider.com time to read: +5 min

Aska, a startup founded in 2018, is working to bring a flying car to market. Aska's flying car will at first be able to drive on local roads with slower speed limits. One startup wants to change that with an ambitious plan to land flying cars in customers' driveways by 2026. Flying cars, he said, will offer people the luxury of living farther from their offices in pricey cities — without needing to spend half their waking hours traveling. AdvertisementAdvertisementKaplinsky told me that hopping over traffic in a flying car isn't realistic — with our current understanding of physics, anyway.

Persons: I'm, Taylor Swift, Tim Levin, Guy Kaplinsky, Aska, it's, It's, Kaplinsky, who's Locations: California

☆ Stocks making the biggest moves before the bell: General Motors, 3M, Spotify, Verizon and more
▼ + stars: | 2023-07-25 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

General Motors — Shares of General Motors rose more than 1% after the automaker raised its full-year guidance and reported second-quarter results that rose on a year-over-year basis. 3M posted $7.99 billion in revenue, beating analysts' estimates of $7.87 billion, according to Refinitiv. The company also raised its full-year earnings guidance and reaffirmed its revenue guidance. The airline's full-year earnings guidance of $5.50 to $7.50 per share was roughly in-line with the average analyst estimates of $6.65, according to FactSet. Verizon — The telecommunications giant traded 2.6% higher after reaffirming its full-year guidance.

Persons: Danaher, FactSet, Lilium, Refinitiv, Piper Sandler, Edward Yruma, —, Samantha Subin, Yun Li, Jesse Pound, Sarah Min, Tanaya Macheel Organizations: General Motors, Xerox, FactSet, General, GE, Spotify, European Union Aviation Safety Agency, Alaska Air, Raytheon, Refinitiv, Verizon, Walmart Locations: Alaska

☆ Electric helicopters could replace rideshares. How to invest in this 'evolutionary' technology
▼ + stars: | 2023-07-23 | by ( Alex Harring | ) www.cnbc.com time to read: +7 min

"It's more of an evolutionary technology than a revolutionary technology." But Cowen managing director Cai von Rumohr said investors should be prepared for timelines to be pushed back, as this is still considered "early-stage tech." "Given the push for climate and to basically reduce carbon emissions, I think, at some point, there's going to be a market," von Rumohr said. The outlook is still clouded by many variables, von Rumohr said. "It's definitely an important investment opportunity for investors," Moeller said.

Persons: Harry Potter, Austin Moeller, Moeller, Archer, Joby, Cowen, Cai von Rumohr, von Rumohr, Lilium, Von Rumohr, Marco Iachini, Vanda Research's, Bill Peterson, It's Organizations: Archer, Federal Aviation Administration, FAA, Toyota, Stellantis, Air Force, Aerospace, JPMorgan

☆ Joby receives FAA nod to begin flight testing of electric air taxi
▼ + stars: | 2023-06-28 | by ( ) www.reuters.com time to read: +2 min

[1/2] Joby Aviation founder JoeBen Bevirt poses next to a Joby Aviation Air Taxi ahead of their listing at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., August 11, 2021. REUTERS/Andrew Kelly/File PhotoJune 28 (Reuters) - Joby Aviation (JOBY.N) said on Wednesday the U.S. aviation regulator has given the nod for flight testing of its electric air taxi, taking it a step closer to securing approvals for commercial operations. Joby said the Federal Aviation Administration (FAA) had granted a Special Airworthiness Certificate, which allows flight testing of its first production prototype without passengers. Rival Archer received the green signal for flight testing in 2021. Joby's aircraft will be delivered to Edwards Air Force Base after completing initial testing, the company said.

Persons: JoeBen Bevirt, Andrew Kelly, Tetsuo Ogawa, Joby, Archer, Germany's, Aishwarya Nair, Krishna Chandra Eluri Organizations: Joby Aviation, Joby Aviation Air Taxi, New York Stock Exchange, REUTERS, U.S, Toyota North, Toyota, Archer Aviation, Vertical Aerospace, Federal Aviation Administration, FAA, Aerospace, Edwards Air Force Base, U.S . Air Force, Thomson Locations: Manhattan , New York City, U.S, California, Joby's, Bengaluru

PARIS/TORONTO, June 18 (Reuters) - A year ahead of the Paris Olympics, flying taxi maker Volocopter wants to prove to executives at the Paris Airshow it is on track to ferry customers around the sporting showcase and take off globally. Success could boost the broader urban air mobility sector by persuading risk-averse investors that air taxis are worth putting money into, analysts and executives said. No flying taxi maker, whether Germany's Lilium or American player Joby, has received certification so far. Air mobility projects that went public through special purpose acquisition companies (SPAC) in recent years have lost at least 30% of their initial value. Venture capital is down across several industries, with a shift in spend from air taxis to drones, Riedel said.

Persons: Volocopter, Dirk Hoke, Robin Riedel, Germany's, Joby, Hoke, Riedel, Alan Wink, Wink, Mike Madsen, Still, Madsen, Allison Lampert, Joanna Plucinska, Maiya, Mark Potter Organizations: PARIS, Paris Olympics, China's, Eastern General Aviation Co, McKinsey Center, Future Mobility, European Union Aviation Safety Agency, McKinsey, Honeywell International, Honeywell, Thomson Locations: TORONTO, Paris, Germany, U.S, Montreal, London, Toronto

☆ US proposes training, pilot certification rules for air taxis
▼ + stars: | 2023-06-07 | by ( ) www.reuters.com time to read: +2 min

[1/2] A full-size mock-up of an electrically powered Lilium Jet air taxi is seen in a presentation bay inside a hangar at the German company’s headquarters in Oberpfaffenhofen airport outside Munich, Germany, December 2, 2022. REUTERS/Tim HepherWASHINGTON, June 7 (Reuters) - The U.S. aviation regulator said on Wednesday it was proposing comprehensive training and pilot certification rules for flying taxis, electric vertical takeoff and landing aircraft (eVTOL), which have been touted as the future of urban air mobility. Low-altitude urban aircraft have drawn intense global interest, with numerous eVTOL companies going public. In May, the FAA issued an "updated blueprint" for airspace and other changes to accommodate future air taxis. Last year, the FAA issued the airworthiness criteria that air taxi startup Joby Aviation (JOBY.N) must meet for its Model JAS4-1 eVTOL aircraft and Archer Aviation (ACHR.N) for its air taxi to be certified for use.

Persons: Tim Hepher WASHINGTON, David Shepardson, David Gregorio Our Organizations: Jet, REUTERS, U.S, Federal Aviation Administration, FAA, International Civil Aviation Organization, Airlines, Joby Aviation, Archer Aviation, Delta Air Lines, Thomson Locations: Oberpfaffenhofen, Munich, Germany, Joby, New York, Los Angeles

☆ Germany air taxi firm Lilium plans to raise $250 mln, shares jump
▼ + stars: | 2023-05-02 | by ( ) www.reuters.com time to read: +1 min

Tencent-affiliate Aceville Pte Ltd will get 184.2 million Lilium warrants worth $1 per Class A share, Lilium said. Lilium did not disclose the valuation at which it planned to raise the funds. The company had a market capitalisation of $152.43 million as of the close of trade on Monday, according to Refinitiv data. Lilium is competing in a crowded market for eVTOL vehicles, hoping to replace cars with aircraft or helicopters for road trips or short hops. It had about $157.5 million of cash, cash equivalents and other financial assets as of March 31.

☆ Air taxi firm Lilium says in funding talks, defends battery design
▼ + stars: | 2023-03-28 | by ( Tim Hepher | ) www.reuters.com time to read: +3 min

PARIS, March 28 (Reuters) - German air taxi developer Lilium said on Tuesday it was in "active and constructive" discussions for new funding as it ramps up battery-cell production. But the challenge of securing certification and funding innovations such as batteries weigh heavily on the new sector. In November, Lilium raised $119 million from existing and new shareholders and partners such as Honeywell. Headed by former Airbus executive Klaus Roewe, Lilium is initially targeting contracts with large corporations and private individuals. Critics say the more radical design may be harder and take longer to certify than other eVTOL models.

☆ German regulator allows SVB to conduct lending business through local branch
▼ + stars: | 2023-03-20 | by ( ) www.reuters.com time to read: +1 min

BERLIN, March 20 (Reuters) - Silicon Valley Bridge Bank (SVB) (SIVBV.UL) has been granted permission to conduct its lending business through its SVB Germany branch, German financial regulator BaFin said on Monday. BaFin had imposed a moratorium on the German branch of SVB in the wake of the U.S. lender's demise and noted the branch had "no systemic relevance". SVB Germany worked with German companies such as HelloFresh (HFGG.DE) and Lilium (5KD.F). Its total assets stood at 789.2 million euros ($846.26 million) at the end of 2022, according to BaFin. SVB Financial filed for bankruptcy protection on Friday, about a week after Silicon Valley Bank was shut down in the largest U.S. bank failure since the 2008 financial crisis.

☆ German air taxi firm Lilium says reaches 250 kph in testing
▼ + stars: | 2023-03-09 | by ( ) www.reuters.com time to read: 1 min

PARIS, March 9 (Reuters) - German air taxi developer Lilium Air Mobility (5KD.F), said on Thursday it had reached a maximum speed of 250 kilometres per hour with a technology demonstrator, calling it a key milestone on the way to certifying its electrically powered flying shuttles in 2025. The threshold was reached during testing of the Phoenix 2 vehicle at a flight test centre in southern Spain, the company told Reuters after posting a teaser video on social media. Lilium is competing in a crowded market for electric Vertical Take-Off and Landing (eVTOL) vehicles, hoping to replace road trips or short hops by aircraft or helicopters. It plans a cruise speed of 250 km or 155 miles per hour. Reporting by Tim Hepher; Editing by Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

☆ Embraer's electric aircraft maker Eve 'on track' to start service in 2026
▼ + stars: | 2023-02-17 | by ( Gabriel Araujo | ) www.reuters.com time to read: +3 min

SAO PAULO, Feb 17 (Reuters) - Electric aircraft maker Eve Holding Inc (EVEX.N) is "on track" to meet its goal of starting commercial operations in 2026, an executive said on Friday, and getting its aircraft certificated is the most immediate target. Eve is confident about the "robust project," which is backed by Embraer's expertise, said Mauad, reiterating the goal of starting operations in 2026. BNDES later announced it would grant Eve an additional 490 million reais ($94.47 million). Mauad acknowledged a consolidation process could happen in the sector, but noted Eve was still particularly focused on working through its partnerships. ($1 = 5.1871 reais)Reporting by Gabriel Araujo; Editing by Anthony Esposito and Susan FentonOur Standards: The Thomson Reuters Trust Principles.

☆ Tesla will 'keep blowing our minds' despite Elon Musk's distractions, shareholder Tencent says
▼ + stars: | 2023-01-20 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

Tencent, known as one of the world's largest gaming and social media firms, invested in Tesla in 2017, taking a 5% stake for around $1.78 billion. Tesla will "keep blowing our minds" with technology even while CEO Elon Musk is distracted with Twitter, according to the executive to who led an investment from Chinese technology giant Tencent into the U.S. electric carmaker. Tencent, known as one of the world's largest gaming and social media firms, invested in Tesla in 2017, taking a 5% stake for around $1.78 billion. Since then, Tesla has become one of the world's largest electric carmakers. "I would count on them [Tesla] to keep blowing our minds with what they do with technology," Wallerstein said.

☆ Slovakia's InoBat eyes electric vehicle battery plant in Serbia
▼ + stars: | 2022-11-14 | by ( Nick Carey | ) www.reuters.com time to read: +2 min

The Serbian government has agreed to provide funding of up to 419 million euros ($431 million) including grants and tax incentives to support the project, InoBat said. InoBat has said it wants to build a gigafactory in western Europe and one in eastern Europe. Last month InoBat said it had signed a declaration of intent with Spain's government to build a gigafactory in Valladolid. The company aims to build battery production capacity in 4 GWh increments starting in 2025 - costing around 350 million euros each - as contracts are signed. Ideanomics is an investor in InoBat, as are mining group Rio Tinto (RIO.L) and Czech utility CEZ (CEZP.PR).

☆ Why Delta is betting on Joby to make electric flying taxis a reality
▼ + stars: | 2022-11-11 | by ( Andrew Evers | Jeniece Pettitt | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy Delta is betting on Joby to make electric flying taxis a realityAdvances in battery and electric propulsion technology have enabled entirely new types of aircraft to take to the skies. Startups Joby, Archer, Vertical, Lilium and more are developing eVTOLs, electric vertical takeoff and landing aircraft, with the vision of making air taxis a reality. CNBC got an inside look at Joby Aviation, one of the eVTOL players that has grand ambitions of not only building the aircraft, but operating an Uber-like air taxi business.

☆ How Joby and Delta are making flying taxis a reality
▼ + stars: | 2022-11-11 | by ( Andrew Evers | ) www.cnbc.com time to read: +1 min

The world has long dreamed of a day when flying cars become part of daily life. Startups Joby, Archer, Vertical , Lilium and more are developing eVTOLs, electric vertical takeoff and landing aircraft, with the vision of making air taxis a reality. CNBC got an inside look at Joby Aviation, one of the eVTOL players with grand ambitions of not only building the aircraft but also operating an Uber-like air taxi business. Founded in 2009 in Santa Cruz, California, the company has received investments from Toyota , Delta Air Lines , Uber and the U.S. Department of Defense. Joby is currently manufacturing and performing flight tests at its pilot facility outside of Monterey in Marina, California.

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