Homegrown eVTOLs showing huge potential

Chinese electric vertical takeoff and landing (eVTOL) companies have demonstrated strong competitiveness compared with their counterparts in the United States and the European Union amid flourishing development of the low-altitude economy, or advanced air mobility, thanks to strong market demand, policy support and China's solid manufacturing foundation, industry experts said.

Commonly known as air taxis, eVTOL aircraft don't require traditional airports, runways or heliports, which makes them a promising option for short trips in urban settings.

Morgan Stanley expects the emerging sector to be worth some $1.5 trillion by 2040, and in anticipation of this rapid growth, many countries have set aggressive timetables for the rollout of AAM services.