The Flying Car Has Finally Arrived
Wildly expensive and with unproven demand, venture capitalists, automakers and aerospace firms are racing for a piece of what soon may be a $1 trillion market.
The first generation of electrified personal aircraft, formally called Electric Vertical Take-Off and Landing Aircraft or eVTOLs, have already taken flight. Now the race is on to cash in on a market that could exceed a trillion dollars.
The idea of a flying car wasn’t far behind the invention of the automobile. But for more than a century, the dream has remained largely science fiction, relegated to the imagination of visionary film directors. Now technology may finally be catching up, and both Wall Street and industry are taking notice.
The first generation of electrified personal air transport, formally called Electric Vertical Take-Off and Landing Aircraft or eVTOLs for short, have already taken flight. They have attracted the attention and money of deep-pocketed venture capitalists, all of whom are racing to be first with a commercial version. In this episode of Bloomberg Primer, How Flying Cars Became a Billion-Dollar Bet, we delve into this burgeoning space, visiting the companies and experts trying to make flying cars a wider reality.