11 Nov INSIDER : These 4 companies explain how China’s leading the race to dominate the $150 billion flying car industry

Media source : INSIDER

Alexa St. John  Nov 11, 2021, 7:55PM

In recent years, Chinese companies have been at the forefront of the shift to electric driving, pushed along by government mandates, public appetite to go greener, and billions of dollars of investment.

And now, Chinese companies are racing to cash in on another kind of electric vehicle that’s set to take off: the flying car.

China is especially poised to benefit from the electric vertical takeoff and landing, or eVTOL, vehicle market, which is expected to hit $150.9 billion by 2035, according to PitchBook. The firm says VCs have invested $640.9 million into a variety of Chinese eVTOL companies this year alone, partly because of the region’s acute need for more transportation options.

“The mobility problem and how it’s solved here is going to take on a much more diverse set of solutions simply because the population density and the ability to navigate on the ground is so much more complicated,” Bill Russo, CEO of Shanghai-based advisory firm Automobility, told Insider.

The full article can be found at Business Insider (subscription required): https://www.businessinsider.com/how-chinese-flying-car-companies-influence-the-us-market-2021-11