How close are flying cars?

Flying cars are right around the corner, though they're likely to look more like drones and be used as taxis, says industry pioneer Joby Aviation. — Bloomberg

Joby Aviation Inc. is locking up leases on rooftops where its mosquito-looking machines will land as early as 2024. The commute as envisioned by The Jetsons is finally nigh, though the rigs coming from Joby and its rivals are decidedly un-carlike.

Able to take off and land vertically, they’re a lot like helicopters – only safer, cheaper and far quieter thanks to a cluster of small electric rotors on a fixed wing, allowing the the craft to fly (and glide) horizontally. If one of the fans conks out, the remainder can mitigate a disaster.

The flying taxi industy is crowded, with several companies testing machines that approximate giant, people-carrying drones, including manufacturing giants like Hyundai Motor Co. and startups like Lilium GmbH. Joby has been at it for 12 years.

Over that time, it has landed about US$820mil (RM3.42bil) in venture funding. In August, the company went public via a SPAC backed by LinkedIn co-founder Reid Hoffman. The pitch to both passengers and prospective investors: save 1 billion people an hour a day.