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Last Updated : Jun 13, 2019 04:00 PM IST | Source: Moneycontrol.com

Flying taxis could soon be an affordable reality; here's what a ride would cost

Munich-based Lilium managed to fly its electric five-seater jet last month and had a successful lift off of its two-seater variant in 2012

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Even as Uber looks to launch its helicopter taxi service in New York City, a German startup is working to make flying taxis an affordable reality.

According to a CNBC report, Munich-based Lilium managed to fly its electric five-seater jet last month and was also successful in lifting off a two-seater variant in 2012.

Also read: Uber 'very interested' in starting flying taxis in India

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The report noted that while Lilium looked to launch a jet manned by a pilot, it is also working on developing unmanned ones. The report quoted Morgan Stanley stating that the market for autonomous vehicles would touch $1.5 trillion by 2040.

The startup, which was founded by three friends from the Technical University of Munich, has managed to catch the attention of venture capitalists the likes of China’s Tencent and London-based Atomico. It has raised around $100 million till date.

The article also quoted Chief Commercial Officer Remo Gerber as saying these jets will take to the skies within six years, and across many cities. Gerber said the company sought an affordable experience for those riding these machines.

He said a ride from Manhattan to JFK airport on Lilium’s jet should cost around $70. In comparison, an Uber helicopter ride would cost $200 for the same distance.

Gerber said the fare for taking a short journey on a Lilium’s jet would be similar to an Uber or Lyft ride. For longer distances, the prices would be similar to flying economy class, or even a train ticket.

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First Published on Jun 13, 2019 04:00 pm
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