Flying cars similar to those used in “The Jetsons” are coming sooner than you might think.
“We have a group called Elevate that’s working on Uber Air,” Uber CEO Dara Khosrowshahi said at the Economic Club of New York on Wednesday.
|UBER||UBER TECHNOLOGIES, INC.||47.46||-0.11||-0.23%|
He thinks the ride-hailing giant will have vertical takeoff and landing (VTOL) vehicles available to the middle and upper-middle class by 2023.
Khosrowshahi said Uber wants the vehicles, which will be electric and shared, to “be built more like cars than airlines” because the company thinks it can be a “mass-market product.”
Battery technology and battery density is “getting to a point where batteries can essentially lift their own weights and lift the weights of passengers,” Khosrowshahi said, adding that the vehicles will need to have multiple rotors because noise level is a “real issue.”
Flying a vehicle will “feel like playing a video game,” Khosrowshahi said, concluding that Uber’s ultimate goal is to “tell you the smartest way to get from point A to point B,” whether that be taking a car or another mode of transportation.
Last month, Uber reported its third-quarter loss narrowed to $1.2 billion, from $5.2 billion in the prior quarter. Khosrowshahi said he expects Uber to reach full-year profitability in fiscal year 2021.
Uber shares are down 31 percent since going public on the Nasdaq in May.