- Chinese-owned companies are leading the flying car industry.
- The industry could be worth $150 billion by 2035.
- Here are the 4 Chinese companies racing to cash in on the business of flying cars.
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.