The eVTOL Industry: “Ups and Inevitable Downs of 2024”
Those magnificent men in their flying machines have raced through another year with some great ups, but also inevitable downs. It was going to be 2024 when the first electric air taxis began commercial flights. This was moved to 2025 and let’s be honest, it may be 2026. But then who cares about reality, when you are being sucked in to a phantasmagorical, business disrupting dream, that ticks all the green boxes and relieves the increasing road congestion of global cities. What’s a few years amongst like-minded people?
Let’s get a few of those downs out of the way, first.
Paris Olympic Games
All those promises with Volocity flying over Paris during the summer Olympics, to be watched potentially by up to 4 billion people on TV. Remember that? Only to end in political wrangling from the Parisian left and the wrath of anarchic groups parading as green saviours of the planet. A damp squib if there ever was one.
What a disappointment.
Lilium
Lilium had a rough and tumble year. Its German government showed scant regard to investing in a home-grown flying taxi company, forcing it to file for insolvency. This was a brutal wake up call for the eVTOL industry. The veneer of financial window dressing collapsed in one press release. The costs of bringing an electric air taxi to market, some pundits suggest, is close to USD1 billion. That is the reality and goodness knows how many other flying taxi startups will face a similar fate over the coming years.
The ups are many. The eVTOL pecking order is more apparent. Joby Aviation is leading the pack in the West, while Archer continues its ongoing ‘catch-up’. A case of steady as she goes with an occasional jaunty skip.
BETA Technologies is close behind followed by Wisk, Eve Air Mobility, Supernal, Jaunt amongst others. In fact, in Sergio Cecutta’s latest ‘AAM Reality Index’ published this week, he places BETA as No.2 in the global list and above Joby.

China
And who is No.1? EHang, of course. The Chinese are five, perhaps ten years ahead of the West’s eVTOL industry. A recent article promising 100,000 air taxis and personal vehicles to be flying over China’s cities by 2030 may sound ludicrous, but why not?
The key to this industry is constructing the infrastructure and where there’s a will, there is a way, especially when China doesn’t suffer from stringent planning red tape, NIMBIES or ‘save the ant’ brigade. Any lengthy protesting and it’s probably off to prison.
New eVTOL start-ups seemingly emerge by the month, while seasoned companies like AutoFlight, Aerofugia, ZeroG, Volant, T‑Cab and Wanfeng Diamond are neatly positioned behind EHang. With the country’s ruling class wholeheartedly behind the green aviation revolution and the creation of a Low Altitude Economy, do not be surprised if that 100,000 figure becomes a reality.
Middle East
Which leads on to the Middle East. A combination of unfettered money and a desire to beat America over an emerging new market, offers the necessary ambition. In fact, the West should be highly appreciative of the Mid East’s interest, especially Joby, Archer and Skyports who signed a number of prized contracts during 2024.
The region will co-head ‘the revolution’ starting in 2026, as like China, building of the essential infrastructure should not be impeded. An increasing number of analysts believe the Middle East is key to the growth of the industry leading up to 2030.
Stand Outs
And a top stand out of 2024? Joby’s landmark 523 mile flight using a hydrogen/electric propulsion system. Now that is impressive.
Also impressive for French musician Jean-Michel Jarre, was being the first passenger in the KleinVision flying car. He described his flight “like being in a Jules Verne book, but for real…” and continued “It was a truly amazing experience!” Perhaps, he will compose a new electronic music album capturing the moment.
Then there are the silver linings. Lilium has several potential company buyers; Volocopter also vulnerable “to European financial disinterest”, allegedly has Geely waiting in the wings; Vertical Aerospace boasts further and much needed investment; and America has a new President, vowed to compete, no wait… even beat (!) China in the Advanced Air Mobility industry with promises of building ten new U.S Freedom cities, all to use electric air taxis and drones. He even has a deputy sheriff ideally positioned to supercharge America’s Urban Air Mobility interests.
Unfortunately, Michael Whitaker is stepping down from the FAA in January causing a furrowed brow amongst AAM aficionados, but the future can take care of itself as Xmas beckons. While, for those long-term, rather demoralised investors of Archer and Joby, what wonderful cheer as their company shares doubled in price during December.
As for 2025, that attracts a crystal ball article in early January… methinks.
To All eVTOL Insights Readers: A Very Merry Christmas and a Happy New Year.
(Top image — Illustration by Taylor Callery)
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