Rolls-Royce cancels its electric flying taxi project

Rolls-Royce has announced that it is halting its plans to launch a commercial line of electric flying taxis. The decision was communicated during a commercial update, ensuring that it was taken during the month of September.

The announcement contrasts with the company’s enthusiastic tone when the project was announced, in which they assured that “electric power and propulsion systems will lead the way toward advanced air mobility.”

High hopes in the initial announcement

The company assured in the presentation of this new line that urban air mobility,such as air taxis and electric take-off and landing vehicleswas to emerge in the middle of the 2020screating a market of one billion pounds (1,204,600,000 euros).

The aircraft were intended to be designed to carry up to four people or light cargo, “revolutionizing supply chains” in the company’s words. The idea was that, as the battery technology improved and introduced new hybrid-electric conceptsthese transports would become “even more sustainable and capable of flying at greater distances and at higher speeds.”

However, plans changed when former Rolls-Royce boss, Warren Eastleft the company. East had been the driving force behind the project, but the new executive director, Tufan Erginbilgichad doubts about the final cost and the time its development would take.

Although the UK government put money into supporting the project, Erginbilgic noted last year that the division that developed it, Advanced Air Mobility, would be put up for sale. When it failed to find a buyer, the decision was made to close the division.

Business looks good in other areas

In the same commercial statement in which the announcement was made, Erginbilgic stated that “the transformation of Rolls-Royce into a high-performance, competitive, resilient and growing business continues with pace and intensity.”

The company revealed that its operations were in line with expectations. Forecasts for the entire year 2024 provide benefits between £2.1 billion (2,529,660,000 euros) and £2.3 billion (2,770,580,000).