Wisk Aero, an air taxi company, received a significant $450 million investment from Boeing.
With this, the startup hopes to become one of the “world’s best-funded” advanced air mobility companies.
Wisk Aero was born in 2019 as a joint venture between Boeing and Kitty Hawk, the flying taxi firm financed by Google co-founder Larry Page.
Wisk explained that he will use the new funds to embark on a period of rapid growth by adding new workers (about 350 people).
The plan is also to spark a manufacturing process that could spawn a commercial-scale air taxi business within the next five years.
In this promising scenario, the company expects to fly 14 million annual flights in some 20 major markets around the world.
Of course, the project depends on the approval of the regulatory authorities of the United States. So far, the Federal Aviation Administration (FAA) has not certified any electric vertical takeoff and landing aircraft, known as Evtol, for commercial use.
According to industry experts, the approval period could take about five years.
In recent times, several companies have been born that develop prototypes of electric propulsion aircraft capable of transporting passengers in short sections in the cities.
It is estimated that the flying taxi market could reach $150 million in revenue by 2035.
Wisk is also looking to expand into other markets. In fact, his intention is to test his Cora electric aircraft in New Zealand.