A drop in tech stock valuations, economic pressures, and a risk-averse investment environment in Europe are some of the hurdles air taxi firms like Germany’s Lilium NV and Volocopter are facing, according to chief executives from the industry.
Electric vertical takeoff and landing aircraft (eVTOL) have been touted as the future of urban air mobility and have drawn global interest, with several eVTOL companies going public.
Germany’s Volocopter is working to fly its air taxis commercially at the Paris Olympics in 2024, in close collaboration with Europe’s main aviation safety regulator EASA and Paris airports.
