The aviation industry is looking for its own Tesla

Yahoo Finance04-21

While automakers led by Tesla (TSLA) have turned out entire fleets of EVs in recent years, aircraft manufacturers are much further away from electrifying the industry. That makes an industry goal to ...

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That’s why the industry is working on a number of green energy solutions like sustainable fuels for larger, long-distance aircraft. Meanwhile, electrifying small planes and helicopters is also on the horizon.To date, a handful of startups have made strides toward the electrification of air travel. And their initiatives are attracting investments frommanufacturing, airlines, and auto giants.A pre-production prototype of the Joby Aviation S4 aircraft is displayed during the World Gove","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"TM":"丰田汽车","BK4187":"航天航空与国防","BK4592":"伊斯兰概念","LU0082616367.USD":"摩根大通美国科技A（dist）","LU1852331112.SGD":"Blackrock World Technology Fund A2 SGD-H","BK4008":"航空公司","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","BK4534":"瑞士信贷持仓","BA":"波音","LU1267930227.SGD":"TEMPLETON GLOBAL BALANCED \"AS\" (SGD) ACC A","BK4533":"AQR资本管理(全球第二大对冲基金)","LU1914381329.SGD":"Allianz Best Styles Global Equity Cl ET Acc H2-SGD","LU0128525689.USD":"TEMPLETON GLOBAL BALANCED \"A\"(USD) ACC","HON":"霍尼韦尔","LU0234572021.USD":"高盛美国核心股票组合Acc","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","LU0820562030.AUD":"ALLIANZ INCOME AND GROWTH \"AMH2\" (AUDHDG) H2 INC","ACHR":"Archer Aviation Inc.","LU1861220033.SGD":"Blackrock Next Generation Technology A2 SGD-H","LU0052756011.USD":"TEMPLETON GLOBAL BALANCED \"A\" (USD) INC","BK4527":"明星科技股","UAL":"联合大陆航空","LU1861215975.USD":"贝莱德新一代科技基金 A2","LU0823414478.USD":"法巴经典能源转换基金","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","BK4588":"碎股","BK4500":"航空公司","TSLL":"Direxion Daily TSLA Bull 2X Shares","BK4574":"无人驾驶","JOBY":"Joby Aviation, Inc.","IE00B1BXHZ80.USD":"Legg Mason ClearBridge - US Appreciation A Acc USD","LU0316494557.USD":"FRANKLIN GLOBAL FUNDAMENTAL STRATEGIES \"A\" ACC","TSLA":"特斯拉","DAL":"达美航空","LU1548497426.USD":"安联环球人工智能AT Acc","LU0719512351.SGD":"JPMorgan Funds - US Technology A (acc) SGD","BK4581":"高盛持仓","STLA":"Stellantis NV","LU1551013425.SGD":"Allianz Income and Growth Cl AMg2 DIS H2-SGD","HOVRW":"New Horizon Aircraft Ltd.","BK4548":"巴美列捷福持仓","LU0348723411.USD":"ALLIANZ GLOBAL HI-TECH GROWTH \"A\" (USD) INC","LU0823411888.USD":"法巴消费创新基金 Cap","HOVR":"New Horizon Aircraft","LU1720051108.HKD":"ALLIANZ GLOBAL ARTIFICIAL INTELLIGENCE \"AT\" (HKD) ACC","LU1429558221.USD":"Natixis Loomis Sayles US Growth Equity RA USD","LU0234570918.USD":"高盛全球核心股票组合Acc Close","LU2357305700.SGD":"Allianz Global Artificial Intelligence ET H2-SGD","LU1435385759.SGD":"Natixis Loomis Sayles US Growth Equity RA SGD-H","03160":"华夏日股对冲","LU0053666078.USD":"摩根大通基金-美国股票A（离岸）美元"},"translate_title":"航空业正在寻找自己的特斯拉","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ACHR":1,"UAL":1,"TSLL":1,"TSLA":1,"TM":1,"STLA":1,"HOVR":1,"HON":1,"DAL":1,"BA":1,"HOVRW":0.9,"JOBY":0.9,"03160":0.6},"content_text":"While automakers led by Tesla (TSLA) have turned out entire fleets of EVs in recent years, aircraft manufacturers are much further away from electrifying the industry.\nThat makes an industry goal to reach net zero emissions by 2050 all the more elusive, energy experts say.\n\"Aviation is really hard to decarbonize,\" Samantha Gross, director of energy security and climate initiative at the Brookings Institution, told Yahoo Finance. \"You're never going to see a battery-powered 737 [plane] because batteries are heavy.\"\nThat’s why the industry is working on a number of green energy solutions like sustainable fuels for larger, long-distance aircraft. Meanwhile, electrifying small planes and helicopters is also on the horizon.\nTo date, a handful of startups have made strides toward the electrification of air travel. And their initiatives are attracting investments from manufacturing, airlines, and auto giants.\n\n\n\n  A pre-production prototype of the Joby Aviation S4 aircraft is displayed during the World Governments Summit in Dubai on February 12, 2024. (Photo by RYAN LIM/AFP via Getty Images)\n \n\n  RYAN LIM via Getty Images\n \n\nUnited Airlines (UAL) has a $1 billion agreement with Archer Aviation (ACHR) signed several years ago to purchase up to 200 of the startup’s vertical takeoff and landing vehicles, or eVTOLs. Prior to the United deal, the California-based company partnered with European carmaker Stellantis (STLA).\nOn an earnings call earlier this year, Archer co-founder Adam Goldstein explained why the company took an investment from the automaker: \"When I founded Archer, I knew from watching the EV industry that developing the capability to manufacture our aircraft at high volumes was perhaps the No. 1 enabler of our future success alongside the design and certification of the aircraft,\" he said.\nMeanwhile, Toyota (TM) and Delta (DAL) Airlines have backed Santa Cruz, Calif.-based Joby Aviation (JOBY). The startup’s eVTOLs can travel up to 100 miles on a single charge, or two round trips between JFK Airport and downtown New York City. The company has already delivered one of its aircraft to the US Air Force for testing and training as part of a broader contract with the US Department of Defense.\nFrench plane maker Airbus (AIR.PA) has an internal unit working on its own prototype of an electric air taxi, with a timeline for delivery by the end of this decade.\nLast year, American plane manufacturer Boeing (BA) became the sole owner of Wisk Aero, a Mountain View, Calif.-based startup working on eVTOLs. Boeing invested $450 million in the company in 2022.\n“What they [startups] are doing today — they’re gathering data on how you operate one of these aircraft in an all-electric environment,” said Dave Shilliday, vice president and general manager of advanced air mobility at Honeywell (HON). The company makes engines and other internal components for traditional and electric aircraft.\nThe Federal Aviation Administration has yet to fully certify the commercial use of electric planes in the United States, but Archer and Joby hope to commercially launch them in 2025. \nAutonomous air taxis\nWisk has been working on a fully autonomous air taxi since 2010. The startup's “Generation 6” has a 90-mile range and can carry four passengers and their carry-on luggage. There are no pilots on board, but flights are overseen by humans on the ground.\nWisk recently announced a deal with the City of Sugar Land, Texas, to develop an infrastructure that would eventually allow for Wisk’s autonomous air taxi operations in the Greater Houston region.\n\n\n\n  A Wisk Aero Generation 6, an electric autonomous air taxi, is displayed during the International Paris Air Show at the ParisLe Bourget Airport, on June 20, 2023. (Photo by GEOFFROY VAN DER HASSELT/AFP via Getty Images)\n \n\n  GEOFFROY VAN DER HASSELT via Getty Images\n \n\nThe company says its goal is to make the service affordable for all, from college students to professionals. “A trip in Wisk’s aircraft will be comparable to a basic ride-share service cost per mile,” a spokesperson said.\nIt’s unclear when Generation 6 will receive certification to fly commercially, but the company has already performed roughly 1,700 test flights across multiple generations of the aircraft. \nHybrid planes\nJust as hybrid cars have become the interim step to going all electric for the auto industry, the aircraft industry is going electric in steps.\nOne example is Ontario, Canada-based Horizon Aircraft (HOVR), which is currently working on a 15-foot-long hybrid eVTOL, initially targeted toward municipality use and emergency situations like hospital transports.\n\"Think of it [the hybrid] as a very practical bridge to a future when all-electric aircraft actually make a lot more sense,\" said Brandon Robinson, co-founder and CEO of Horizon Aircraft.\nThe former Canadian fighter pilot envisions that cost-effectiveness will drive more hybrid solutions in the near term.\n\"When you burn less fuel per unit mile, you not only save yourself costs, but also, from a sustainable aviation perspective, you produce less hydrocarbons,\" he added.\n\n\n\n  The Cavorite X7 prototype will carry one pilot and up to six people with as much as 1,500 pounds of useful load. Courtesy: Horizon Aircraft\n \n\nSustainable fuel\nWith battery weight as a main constraint for long-haul electric flights, the industry is currently turning to clean jet fuels for large aircraft.\nVirgin Atlantic made history last year by testing out the first transatlantic flight from London to New York City using 100% sustainable aviation fuel (SAF) that is not derived from petroleum.\n\"The world will always assume something can’t be done … until you do it,\" read a blog post by founder Sir Richard Branson. \"This flight today shows that sustainable jet fuel can be used as a drop-in replacement for jet fuel — and it is the only viable solution for decarbonising long-haul flights.\"\n\n\n\n  Ground crews prepare an Emirates Boeing 777-300ER aircraft, powering one of its engines with 100% Sustainable Aviation Fuel (SAF), for a demonstration flight at the Dubai International Airport in Dubai, on Jan. 30, 2023. (Photo by GIUSEPPE CACACE/AFP via Getty Images)\n \n\n  GIUSEPPE CACACE via Getty Images\n \n\nThe UN's International Civil Aviation Organization wants the overall SAF pool to increase from today's levels of less than 1% to 5% by 2030.\n\"We think that's very achievable,” Gavin Towler, chief sustainability officer at Honeywell, told Yahoo Finance. The company licenses its SAF technologies for chemical plants to startups and oil companies.\nThere are numerous ways to produce sustainable aviation fuels, but three have emerged as industry forerunners. One of them uses feedstock. The other is linked to ethanol, which is also used in gasoline blends. A third involves converting carbon dioxide and hydrogen to make aviation fuel.\nHaving one standard for SAFs across the board would help speed up the road to sustainability, Ramanan Krishnamoorti, vice president for energy and innovation at the University of Houston, told Yahoo Finance.\n“Price is the biggest challenge that we face today,\" he said. \"The second is also having the same quality of the sustainable aviation fuel across the world.\"\nInes Ferre is a senior business reporter for Yahoo Finance. Follow her on Twitter at @ines_ferre. Yahoo Finance’s Madison Mills contributed to this report.\nClick here for the latest technology news that will impact the stock market.\nRead the latest financial and business news from Yahoo Finance","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":1,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2429939596"}