Wed. Jun 19th, 2024

United Airlines invests another $15 million in electric flying taxi market

United Airlines

United Airlines today announced a $15 Million investment in Eve Air Mobility. They also signed a conditional purchase arrangement for 200 four-seat, electric aircraft as well as 200 options. The first deliveries are expected to be made as early as 2026.

This marks another significant investment from United in flying taxis – or eVTOLs (electric vertical take-off and landing vehicle) – that have the potential to revolutionize the commuter experience in cities around the world. Under the terms of the agreement, the companies intend to work on future projects, including studies on the development, use and application of Eve’s aircraft and the urban air mobility (UAM) ecosystem.

“United has made early investments in several cutting-edge technologies at all levels of the supply chain, staking out our position as a leader in aviation sustainability and innovation,” said Michael Leskinen, President of United Airlines Ventures.

“Today, United is making history again, by becoming the first major airline to publicly invest in two eVTOL companies. Our agreement with Eve highlights our confidence in the urban air mobility market and serves as another important benchmark toward our goal of net zero carbon emissions by 2050 – without using traditional offsets. Together, we believe our suite of clean energy technologies will revolutionize air travel as we know it and serve as the catalyst for the aviation industry to move toward a sustainable future.”

“United’s investment in Eve reinforces the trust in our products and services and strengthens our position in the North American market,” said Andre Stein, co-CEO of Eve. “I am confident that our UAM agnostic solutions, coupled with the global know-how we have been developing at Eve and Embraer’s heritage, are the best fit for this initiative, giving United’s customers a quick, economical and sustainable way to get to its hub airports and commute in dense urban environments. It is an unparalleled opportunity to work with United to advance the US UAM ecosystem, and we look forward to it.”

United was the first major U.S. airline to create a corporate venture fund, United Airlines Ventures (UAV), designed to support the company’s 100% green commitment to reach net zero emissions by 2050 without the use of traditional offsets. United Airlines Ventures (UAV) is the industry leader in investments in eVTOL and e-flight, hydrogen fuel cell engines, sustainable aviation fuel, and eVTOL. United provided a deposit of $10 million to a California-based company that operates eVTOL for 100 aircraft.

United’s investment in Eve was driven in part by confidence in the potential growth opportunities in the UAM market and Eve’s unique relationship with Embraer, a trusted aircraft manufacturer with a proven track record of building and certifying aircraft over the company’s 53-year history.

Critically, their relationship includes access to Embraer’s service centers, parts warehouses and field service technicians, paving the way for a reliable operation. Upon entry into service, United could have its entire eVTOL fleet serviced by Eve’s agnostic service and support operations. United also joins Eve’s consortium that will simulate UAM operations starting in September 12.

Rather than relying on traditional combustion engines, eVTOL aircraft are designed to use electric motors, providing carbon-free flights and to be used as ‘air taxis’ in urban markets. Eve’s design uses conventional fixed wings, rotors and pushers, giving it a practical and intuitive lift-plus-cruise design, which favors safety, efficiency, reliability and certifiability.

The vehicle’s range is 60 miles (100km), and it has the potential to provide a sustainable commute as well as reduce noise levels by 90 per cent compared with conventional aircraft. Eve is also developing an air traffic management solution that will allow the UAM sector to scale safely. This software is intended to perform at the same safety level as Embraer’s existing air traffic management software and expected to be a strategic asset to helping the entire industry grow.

United’s shared purpose is “Connecting People. Uniting the World.” From our U.S. hubs in Chicago, Denver, Houston, Los Angeles, New York/Newark, San Francisco and Washington, D.C., United operates the most comprehensive global route network among North American carriers.

United is bringing back its customers’ favorite destinations and adding new ones on its way to becoming the world’s best airline. United Airlines Holdings, Inc., is the parent company of United Airlines, Inc., is traded on the Nasdaq under the symbol “UAL”.

EveIt is dedicated to accelerating urban air mobility. Benefitting from a start-up mindset, backed by Embraer S.A.’s more than 50-year history of aerospace expertise, and with a singular focus, Eve is taking a holistic approach to progressing the UAM ecosystem, with an advanced eVTOL project, comprehensive global services and support network and a unique air traffic management solution. Since May 10, 2022, Eve is listed on the New York Stock Exchange, where its shares of common stock and public warrants trade under the tickers “EVEX” and “EVEXW”.

Source: newbusinessethiopia

By Chala Dandessa

I am Lecturer, Researcher and Freelancer. I am the founder and Editor at ETHIOPIANS TODAY website. If you have any comment use caalaadd2@gmail.com as email contact. Additionally you can contact us through the contact page of www.ethiopianstoday.com.

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