SHOPSMART AUTOS – CUSTOMER INFORMATION – JANUARY 21, 2021
The $1.5 Trillion Potential Behind Flying Cars
At Bell’s booth, I spoke with a company representative who said ride sharing via a flying car will be available within five to six years. Believe it or not, instead of “Ubering” in some beat up Toyota Camry, you’ll be picked up in a flying vehicle. I also checked out
Hyundai’s
(OTCMKTS:HYMTF) flying vehicle at CES. The company has plans to build eVTOL aircraft and deploy them through Uber’s air taxi network, which Uber hopes to get off the ground by 2023. Hyundai’s Personal Air Vehicle will use two tiltrotors on the tail and 10 other rotors. It will take off vertically and have a cruising speed of 180 mph with a cruising altitude from 1,000 to 2,000 feet. Again, the multiple electric rotors will give off less noise than a traditional helicopter and require only five to seven minutes for recharging during peak hours with a range of 60 miles between charging. Uber is all over this market. It has its own concept vehicle, and is partnering with Bell, Hyundai, and at least a half-dozen other aircraft companies that can meet its specifications for vertical takeoff and landing, electric-powered, and minimal noise. Aside from being really cool, flying cars have a lot of advantages over current transportation options like helicopters. Better electric motor design can significantly lower fuel costs and is easier to maintain and service. Advancements in autonomous flying, without the need for a pilot, can bring down operation costs and reduce pilot error. A Los Angeles-based startup, Skyryse, recently showed how it could modify a commercial helicopter to fly autonomously. More advancements are needed to bring flying cars into reality, but I’m confident they will happen. An air traffic control system that can allocate and manage the airspace, as well as certify airworthiness and pilot requirements for unmanned autonomous aerial systems, will be needed. The physical infrastructure related to launching pads and more will also be necessary. That’s already happening as developers in major cities like Miami are building landing pads for eVTOL aircraft. I told you flying cars were coming. And with so much at stake, I think they will follow electric and autonomous vehicles as the wave of the future — making savvy investors who get in early very happy in the coming years. Make it a champion day!
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