Jetsons-like travel in air taxis is 'as close as we've seen,' Joby's chief product officer says

Getting from downtown Manhattan to JFK Airport in under seven minutes for the same price as an Uber (UBER) is easy — as long as you fly above traffic. It sounds like something from the Jetsons, but according to air taxi companies like Joby Aviation (JOBY), it could be a reality by next year. With $400m in backing from Toyota (TM) and $60m from Delta (DAL), Joby is hoping to win the race to get air taxis — more formally referred to as electric vertical takeoff and landing vehicles (eVTOLs) — to market. EVTOLs are not simply a new type of chopper. They are 100% electric, just like an electric vehicle or a drone, and are designed to hold multiple passengers and luggage. “This is as close as we've seen, I think, in terms of the technology coming together to make something that you could use on a daily basis,” said Eric Allison, Joby’s chief product officer. But first, air taxis need regulatory approval. A representative from the FAA told Yahoo Finance while 2025 could be a launch year for flight, 2028 is a more realistic date for a competitive, scaled air taxi market in at least one location. That certification is the No. 1 thing to watch for retail investors interested in this space, according to Wall Street research firm Jefferies. “We don't know when certification for FAA will happen for any aircraft,” Jefferies’ aerospace, defense, and airlines analyst Sheila Kahyaoglu said. Joby hopes the technology powering their aircraft helps with the regulatory process. The FAA's certification requirements include meeting certain safety criteria and flying under a variety of conditions. The fully electric Joby aircraft has built in a number of safety measures, including six motors and four batteries, which were developed by a team of ex-Tesla employees.<br/>