Canada is investing in flying taxis. On April 19th, the Innovation, Science and Economic Development Canada group (ISED) committed to a $39.2M investment over 5 years to a group of academic and industrial companies led by Bell. The investment marks one of the first commitments by a government to back the advancement of flying car technology, and represents a large step forward in the widespread public approval of such technologies.
The team also includes powerplant producer Pratt and Whitney, among other companies – totaling 18 in all.
Why it’s important: This move is important because a government agency investing in a vertical flight and air taxi effort reflects the level of commitment toward advancing the flying car and taxi industry. Canada is leading the way in terms of investment, so look out for other countries becoming involved. The UAE has already sponsored Volocopter flight testing in Dubai earlier this year.