Donald Trump · China · United Kingdom · CNBC Technology
Infighting, court battles could put long-hyped air taxi breakthrough in jeopardy
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Air taxi makers have hyped science fiction-like flying cars for years.
Key facts
- Bevirt told CNBC at the Farnborough International Airshow in 2022 that Joby planned to operate air taxis in 2024
- Former co-CEO Adcock, who now leads Nvidia-backed robotics startup Figure AI, told CNBC in 2021 that the company was working with the FAA toward certification by 2024
- Eve has lost about 13% of its market capitalization this year, while Beta Technologies, which went public in November, is down more than 50% from its first close
- Most recently, Archer said it finished Phase 3 of this process and is concurrently working on Phase 4
Summary
Last year, Joby Aviation sued Archer, accusing the rival air taxi maker of "corporate espionage" and using stolen information to interfere with a real estate developer deal. Weeks later, Archer clapped back, alleging that Joby hid ties to China and embarked on a "calculated, years-long scheme" to defraud the U.S. government. Simultaneously, another battle was brewing. Archer hit Vertical Aerospace with a patent infringement suit, claiming the British air taxi maker ripped off its Midnight aircraft. "Investors are going to look at things going awry, the resources that are being spent on those lawsuits, and they're going to turn away from the sector," Beta Technologies CEO Kyle Clark told CNBC in an interview.