Boeing’s investment in the automated flying taxi developer follows a series of reverse takeovers in the sector in 2021.

Aerospace manufacturer Boeing invested $450m in US-based flying taxi developer Wisk yesterday, highlighting the interest from the industry in commercially viable vertical take-off and landing (VTOL) vehicles.

Founded in 2010 as Zee Aero, Wisk is working on automated electric VTOL (eVTOL) echnology and is currently in the process of building its sixth generation machine. Zee Aero was acquired by Kitty Hawk Corporation in 2017 and Wisk was formed as a joint venture with Boeing in 2019.

In contrast to other companies working on VTOL technology, Wisk is going straight to automated vehicles as opposed to human-operated taxis. Automation, the logic goes, is the best way for the industry to scale, as it means operating costs will be lower along with the resulting prices.

According to IDTechEx, the market for eVTOL aircraft is expected to reach $14.7bn by 2041, bolstered by the involvement of the world’s largest aerospace companies in the…

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Fernando Moncada Rivera

Fernando Moncada Rivera is a reporter at Global Corporate Venturing and also host of the CVC Unplugged podcast.