Passenger eVTOL OEMs

SkyDrive Inc. announced it will launch a feasibility study to repurpose the 146 existing rooftop emergency landing sites in Osaka City as eVTOL vertiports, part of the Cabinet Office's Super City Initiative. The project will be conducted with partners including Osaka Prefecture, Osaka City, Osaka Metro, Kansai Electric Power Co. Inc., Chodai Co. Ltd., and the Organization of Airport Facilitation, with Osaka Metro serving as leader and SkyDrive handling survey design and Civil Aeronautics Act compliance. The study will verify surrounding airspace and obstacle limitation surfaces, survey wind and noise impacts from surrounding buildings, assess floor load capacities and charging infrastructure for repurposing the sites into alternate vertiports, and draft coexistence rules with authorities including the Osaka Municipal Fire Department. The 146 rooftop sites, marked with an H and required on buildings over 100 meters tall under local fire safety regulations, are currently limited to emergency disaster relief, and securing commercial passenger transport permits for them remains a significant regulatory challenge. SkyDrive and Osaka Metro are working toward commercial launch of eVTOL services by approximately 2028 within Osaka Prefecture and Osaka City, areas designated as Super City National Strategic Special Zones.

SkyDrive Inc. has appointed former Toyota executive Taiji Ono as executive vice president and head of global business, and former Airbus executive Gonzalo Ramos as global commercial officer. Ono, who spent nearly 17 years at Toyota Motor Corporation before serving as chief strategy officer at a data platform company, will oversee global business strategy, commercial models and sales strategy, including public-private partnerships in Japan. Ramos, who brings over 22 years of experience in commercial aviation, aircraft leasing and Advanced Air Mobility, including almost 18 years at Airbus, will lead commercial expansion in the United States, Middle East, Europe and Australia, driving aircraft sales contracts and post-delivery maintenance, repair and overhaul support. SkyDrive says it has partnered with airlines, operators, local governments and business partners across 10 countries, and that pre-orders and letters of intent for its SKYDRIVE SD-05 model total 451 aircraft. The company is pursuing type certification with the Japan Civil Aviation Bureau and the U.S. Federal Aviation Administration, with the aim of launching the aircraft into service in 2028.

Archer Aviation completed the first city-to-city roundtrip flight of its all-electric Midnight eVTOL aircraft as part of its No Roads tour. The flight, from Salinas to Hollister, was positioned as a proof of concept for future urban air mobility services using the Midnight platform, showing use cases beyond short intra-city hops. Archer Aviation, a US-based aerospace and defense company with a market value of about $4.1b, is building electric aircraft and related services for both commercial and military use. The company's next proof point is Midnight's progress through the FAA Type Inspection Authorization work and the move into eIPP flights in Texas, Florida and New York, which will show whether Archer can shift from high-profile demos to repeatable, regulated operations. Execution risks remain, including high cash burn, ongoing losses and the need for large-scale deployment to justify current growth expectations.

Joby Aviation reported Q2 revenue of $38.64 million against a $30.38 million consensus and raised its fiscal 2026 revenue guidance to $115 million to $125 million, with CEO JoeBen Bevirt saying the company is preparing for commercial service and targeting its first EIPP flights in Dallas-Fort Worth this month. The stock trades at $6.26, down 52.57% year-to-date and 56.49% over the past year, well below its $19.98 52-week high. Joby's FAA Stage 4 certification progress has moved from 6% to 20%, Blade seats sold rose more than 50% year-over-year in Q2, and the company counts a $250 million direct investment from Toyota, a Virgin Atlantic UK partnership, and a Dubai vertiport network among its supports. Against rival Archer Aviation, which carries a $4.02 billion market cap and posted just $5 million in Q2 revenue, Joby's $6.04 billion valuation rests on a larger revenue base. Risks include an operating margin of -1,346.92%, guided H2 2026 cash use of $385 million to $415 million, prior raises of $1.2 billion in February and $576 million in October 2025, and certification timing that could slip into 2027.

Archer Aviation's stock surged 24.6% in August, driven by news that the company agreed to acquire three Boeing subsidiaries. The broader market also rose, with the S&P 500 gaining 2.6% and the Nasdaq Composite up 3.9%. On August 10, Archer announced a deal to purchase Boeing's Wisk Aero, SkyGrid, and Insitu units, with Boeing receiving a 16.5% stake in Archer in exchange. Insitu, which is already profitable with about $200 million in annual sales, is expected to immediately boost Archer's revenue and margins. Despite the monthly gain, Archer shares remain down roughly 24% year to date, and the stock has pulled back about 1.2% in early September amid market volatility.

China has declared the low-altitude economy a national strategy under the concept of New Productive Forces. By 2026, cargo drones, agricultural drones, and flying taxis (eVTOL) will begin commercial services in several provinces, creating enormous economic value from the supply chain in airspace below 1,000 meters. Two standout case studies are EHang Holdings, the first Chinese company to receive a Type Certificate from the Civil Aviation Administration of China (CAAC) for commercial eVTOL, and Sichuan Jiuzhou, a state-owned enterprise that produces radar and ADS-B systems and controls air traffic infrastructure. Both companies have strong business moats in terms of regulation and national security. While the world is focused on the EV price war, a new battleground over China's skies has opened, and the winners will be those who secure licenses and infrastructure first.

Archer Aviation's shares have surged over 36% in the past month, driven by its acquisition of Boeing's Wisk Aero, SkyGrid, and Insitu units, which will give Boeing a nearly 20% stake in the company. The deal combines autonomy, eVTOL, and uncrewed aircraft capabilities into an end-to-end physical AI platform for aerospace and defense, and adds profitable drone maker Insitu, which generates over $200 million in annual revenue. Additional catalysts include the successful test flight of its Midnight aircraft and Cathie Wood's ARK buying 940,434 shares worth about $4.97 million. However, the company's financials remain weak, with Q2 revenue of only $5 million and a net loss of $263.2 million, while cash burn of $215.3 million per quarter leaves less than two years of runway. Despite the momentum, the stock is down 19% year-to-date, and the deal is expected to close by the end of 2026.

Boeing announced plans to sell three of its aerospace and electric vertical takeoff and landing businesses to Archer Aviation. In exchange for the businesses and a $55 million equity investment, Boeing will receive newly issued shares and warrants in Archer, giving it nearly 20% ownership after the deal closes later this year. Boeing retains rights to use Wisk's autonomous flight technology for its commercial and defense aircraft. The divestiture removes a distraction as Boeing works to restore its commercial aircraft business, recently marked by FAA approval of the 737 MAX 7. Boeing trades at about 77 times trailing earnings, a premium to GE Aerospace's 40 times, and management targets $10 billion in annual free cash flow, below the $14 billion generated in 2018.

Archer Aviation and AEG are partnering to build downtown Los Angeles' first vertiport at L.A. LIVE, making Archer the exclusive air taxi partner for the district. The announcement follows Archer's second-quarter 2026 results, which showed US$5.0 million in sales and a net loss of US$263.2 million, with loss per share narrowing slightly to US$0.34 from US$0.36. The L.A. LIVE deal strengthens Archer's visibility around urban deployment and its LA28 ambitions, but does not change the near-term reality that widening net losses and ongoing certification work remain the key catalyst and main operational and funding risk. Archer's recent progress with the Midnight piloted roundtrip between Salinas and Monterey ties directly into regulatory and operational milestones that underpin future air taxi services in Los Angeles and other eIPP markets. The company's narrative projects US$716.0 million revenue and US$62.9 million earnings by 2029, requiring 622.3% yearly revenue growth and an earnings increase of about US$805 million from negative US$742.5 million today.

Against the backdrop of crowded trading in A-share technology hot sectors and amplified short-term volatility, institutions recommend that investors shift their attention to three major sectors: the low-altitude economy, humanoid robots, and commercial aerospace, seizing pullback windows to position at lower levels. CICC believes that the intensive rollout of low-altitude economy policies is resonating with technological iteration across the industry chain, and expectations for an industry inflection point are gradually strengthening. Guoyuan Securities analyst Gong Siwen suggests focusing on whole-machine names such as Wanfeng Auto Wheel, EHang, JOUAV, and Lvneng Huichong, as well as core component names such as Zongshen Power, Wolong Electric Drive, Yingliu Shares, and Inpower. On the humanoid robot front, Unitree Robotics recently entered the capital market and is expected to provide a clearer valuation anchor for the sector, driving a shift in capital from pure thematic speculation to growth-based pricing. Huayuan Securities analyst Zhao Mengni suggests focusing on Everwin Precision, Foresight Technology, Sanhua Intelligent Controls, Tuopu Group, Leader Harmonious Drive, Shuanghuan Transmission, Hengli Hydraulic, Zhejiang Rongtai, Moons' Electric, and Zhaowei Machinery & Electronics. In commercial aerospace, the Long March 10B and Zhuque-3 have successively completed successful recoveries, and reusable rocket technology is maturing. With falling launch costs resonating with demand for low-orbit constellation networking, industrialization is expected to accelerate. Guotai Haitong Securities analyst Yang Tianhao suggests focusing on Chengchang Technology, Tongyu Communication, Sunway Communication, Shanghai Hanxun, Aerospace Electronics, Feiwo Technology, Sirui Advanced Materials, and Western Metal Materials.

Joby Aviation is making notable progress toward Federal Aviation Administration certification of its electric vertical takeoff and landing aircraft, having completed 20% of its work in Stage 5, the final Show & Verify stage, as of July 31, while the FAA had completed about 10% of its work. The company was roughly two-thirds of the way through Stage 4 at this time last year, marking significant progress in 12 months. In August 2026, Joby announced it was acquiring Resonant Sciences, a fast-growing defense technology company with more than $100 million in trailing 12-month revenue, adding a growing defense business alongside its air taxi ambitions. Analysts at Morgan Stanley once estimated that urban air mobility could become a $9 trillion market opportunity by 2050, with human transportation accounting for roughly $3.8 trillion of that total. Joby trades at roughly 62 times sales, leaving its valuation little room for slip-ups or surprise delays.

Archer Aviation completed a piloted roundtrip intercity flight of its all-electric Midnight aircraft in coordination with the FAA. The company also announced a technical breakthrough with its ZEE aviation foundation AI model, built to predict real-time aircraft trajectories. Management framed both milestones as progress toward commercial air taxi operations and broader use of AI in aviation safety and air traffic management. The latest quarter shows US$5 million in sales against a net loss of US$263.2 million, so execution risk and cash use remain central to the story.

Archer Aviation has agreed to acquire three Boeing businesses—Wisk Aero, Insitu, and SkyGrid—in exchange for newly issued Archer stock. When the deal closes, Boeing will receive a stake equal to 19.75% of Archer's Class A shares immediately beforehand. Insitu, a military drone maker with more than $200 million in annual revenue, is one of the three businesses being acquired. Archer stock surged as much as 25% on the news before settling to a roughly 13% gain.

Archer Aviation shares rose more than 9% after the company reported second-quarter earnings that beat Wall Street expectations and announced a deal to acquire three businesses from Boeing. Revenue came in at $5.0 million, more than 150% above analyst targets, while the adjusted loss per share of $0.23 was narrower than the expected $0.25 loss. In a separate transaction, Archer will buy Insitu, Wisk, and SkyGrid from Boeing in exchange for a roughly 20% equity stake and additional warrants. Archer stated that Insitu generates $200 million in annual revenue and is profitable, though full audited financials have not yet been released.

Joby Aviation expects to begin eVTOL Integration Pilot Program flights in Texas in September 2026, marking a key operational test as the company works toward carrying its first passengers this year. The flights will cover routes across the Dallas-Fort Worth area over a week, progressing from pilot-only operations to nonpaying and eventually paying passengers under the eIPP framework. Joby has completed or substantially completed three of five FAA type-certification stages and was about 75% through the fourth stage at the end of the second quarter, with continued progress in the fifth and final stage. Manufacturing is scaling up, with five aircraft flying as of the second quarter, including its first FAA-conforming aircraft, and 12 more in production, while the nonconformance rate in manufacturing fell nearly 40% in the first half of 2026. Toyota and Joby formed a manufacturing joint venture in June 2026, with Toyota holding 51% and Joby 49%, and Uber plans to offer Uber Air powered by Joby through its app when service launches.

Intel fell 3% premarket after announcing a $15 billion common stock offering to fund general corporate purposes including capital expenditures and working capital. GameStop rose more than 1.5% on a Bloomberg report that it is weighing abandoning its $56 billion bid for eBay, which eBay rejected in May as not credible. Hewlett Packard Enterprise gained over 5% after Morgan Stanley upgraded the stock to overweight, citing an attractive risk/reward profile. Verisk Analytics tumbled more than 6.5% after a Delaware judge ruled it must proceed with its $2.35 billion acquisition of AccuLynx, a deal it had terminated in December. Apple declined 1% following a Jefferies downgrade to underperform, with analysts citing canceled plans for an all-glass iPhone. Rocket Lab rose nearly 3% ahead of its second-quarter earnings report after the bell. Berkshire Hathaway added 0.5% after reporting a 16% increase in second-quarter operating earnings, driven by manufacturing, service, retailing, and energy profits, though insurance investment income fell 9%. Archer Aviation surged after announcing the acquisition of three Boeing subsidiaries, with Boeing taking an undisclosed stake.

EHang Holdings Limited announced that its flagship EH216-S successfully completed Central Asia's first pilotless human-carrying flight of an electric vertical takeoff and landing aircraft in Astana, Kazakhstan, during the Games of the Future event. The EH216-S conducted multiple route flights over the event venue, carrying Kazakhstan's Minister of Transport Nurlan Sauranbayev and other distinguished guests. With this flight, EHang's EH216-S has now expanded its flight footprint to 23 countries across five continents, marking Kazakhstan as the latest addition and demonstrating its adaptability to diverse climates, geographic environments, and airspace conditions.

Archer Aviation shares rose 10.3% after the company announced that its ZEE aviation AI model can predict aircraft movements on airport surfaces minutes ahead and that its piloted Midnight eVTOL completed a roundtrip flight between Salinas and Monterey in about nine minutes each way. The milestones suggest Archer is positioning itself not only as an electric air-taxi manufacturer but also as a potential provider of advanced aviation safety and traffic-management software. The Midnight roundtrip ties directly into Archer's White House eVTOL Integration Pilot Program work and preparations for the LA28 Olympics, both central to proving that air taxi services can operate on real city pairs at meaningful frequencies. While the ZEE news does not materially change near-term drivers yet, it could support more optimistic analyst projections that Archer could reach about US$868.1 million in revenue and US$73.8 million in earnings by 2029.

Wanfeng Auto's subsidiary Volocopter successfully completed an open flight demonstration of its electric vertical take-off and landing aircraft on Jeju Island, South Korea, including a sea flight demonstration module. This marks Wanfeng's first international open flight demonstration since restructuring Volocopter last March. The event attracted over 200 attendees, including South Korean local dignitaries, diplomatic envoys from multiple countries, and heads of civil aviation authorities. Six South Korean broadcasters and 19 newspapers published more than 50 reports in total. Wanfeng Volocopter has entered into a strategic partnership with South Korea's Chodang University to jointly develop a UAM and eVTOL pilot training curriculum. The two-year collaboration will be equipped with multiple VoloXpro training aircraft and professional flight simulators. South Korea is simultaneously advancing regulatory improvements and infrastructure development. This flight helps the industry accumulate offshore operational experience and promotes the integration of low-altitude transportation into South Korea's comprehensive transport system.