'Affordable' electric air taxis

Competitively priced electric air taxi rides can significantly change urban living, as well as real estate benchmarks.

There is rising interest in this segment from the aviation industry, the automotive sector, and property developers, among others.

"I think we are going to see interest from real estate operators accelerate over the next few years," JoeBen Bevirt, founder and chief executive officer of Joby Aviation, told NEF. The California-headquartered Joby plans to launch electric air taxi services in 2025. It manufactures an electric vertical takeoff and landing, or eVTOL, aircraft capable of carrying four passengers in addition to the pilot and will run the service.

"Real estate is the world's largest global asset class, and it is all about location, location, location. With eVTOLS, you can move seamlessly from one location to another," he said.

The electric air miles race includes other eVTOL companies like Lilium, which aims for the first piloted test flights later this year, Volocopter, and Archer Aviation. Eve Urban Air Mobility, a subsidiary of Brazil's Embraer, holds orders for nearly 3,000 eVTOLS, with the aircraft expected to enter into service in 2026. Hyundai's company, Supernal, aims to begin initial test flights of its electric air taxi by the end of the year and launch service in 2028. Japan's SkyDrive began production in March at the plant owned by the official production partner Suzuki Motor Company. Cumulative outstanding orders for eVTOLS already number over 10,000.