Venture capitalist Peter Thiel’s 2013 quip about wanting flying cars but getting Twitter instead still stands, with character limits increasing to 280. Two startups, Joby Aviation and Xpeng Aeroht, backed by Toyota, are making strides in the electric vertical take-off and landing (eVTOL) craft industry, with shares soaring. Joby plans to expand production to mass-produce 500 crafts annually, while Xpeng Aeroht secures $250 million in funding to produce a Cybertruck-resembling vehicle with detachable air module.

Joby Aviation, backed by Toyota, plans to expand production and seek FAA certification for their eVTOL craft, with shares up 122% this year. Xpeng Aeroht, a flying car division of Xpeng, secured $250 million in funding to mass-produce their Cybertruck-resembling vehicle with a $280,000 price tag. Toyota-backed SkyDrive also obtained certification for an eVTOL, with varying adoption barriers worldwide.

Joby Aviation and Xpeng Aeroht are leading the charge in the eVTOL craft industry, with plans for mass production and commercialization. Toyota-backed SkyDrive obtained initial certification for an eVTOL, while regulatory uncertainty hinders the use of Xpeng Aeroht’s smaller eVTOL, the X2, in Australia. Joby’s commercial passenger services in Dubai are delayed to early 2026.

The future of flying cars is becoming a reality thanks to startups like Joby Aviation, Xpeng Aeroht, and SkyDrive, backed by major companies like Toyota. Regulatory hurdles and varying market demands are challenges to widespread adoption, but the industry is making progress towards commercialization and mass production.

Read more at Yahoo Finance: ‘Flying Car’ Industry Taxis Toward Takeoff