The Jetsons may have come out in the 1960s, but in 2024, we are finally close to quickly traveling by air via electric vertical takeoff and landing (eVTOL) aircraft. A recent market report from the Global Advanced/Urban Air Mobility Market Map team of AAM analysts has shared that companies around the world are gearing up for this transition into small sustainable mobility, laying plans to erect over 1,000 vertiports to support growing eVTOL networks that are inching closer to commercial operations.
While we’re still likely a couple of years from bonafide eVTOL air travel, the nascent clean mobility segment is growing and doing so quickly. eVTOLs, in general, have become a growing topic of interest across the EV industry. If you frequent Electrek, you’ve probably noticed that the coverage of the technology has increased tenfold in the past few years.
Every week, we are informed of a new aerial startup developing all-electric mobility technology. We have also covered several “veterans” in the young industry, reaching scaled production, completing manned test flights, and establishing partnerships all over the globe to implement the necessary eVTOL vertiports and charging infrastructure to enable full-fledged commercial flights.
Some of those companies include Archer Aviation, Lilium, and Joby Aviation, to name a few. The eVTOL industry is beginning to snowball, and a team of industry experts and consultants based around the world has compiled a new market map that supports that argument.
According to the report outlined below, a forecast of the global market map confirms at least 1,044 eVTOL vertiports in development that could be operational by 2028.
Source: Global Advanced/Urban Air Mobility Market Map team of AAM analysts
Report: eVTOL vertiports will continue to pop up worldwide
The full report, viewable here, was recently posted by the Global Advanced/Urban Air Mobility Market Map under Unmanned Publications Limited. The report includes both bottom-up site identification and top-down AAM development plans, including government publication of AAM regulations and certification standards, to provide accurate insight into the near-term global vertical port market.
According to the report, 1,044 vertiports are currently being planned for development between 2024 and 2028 worldwide. Still, several eVTOL operators remain implicit in their network launch plans and will significantly affect such aerial hubs coming to fruition. The report’s author, Philip Butterworth-Hayes, elaborated:
However, it is likely that eVTOL programme failures and regulatory delays will trim this total figure to a more likely total of 623. This is still a huge figure, given that this year it is likely that just 24 vertiports will be completed globally.
According to the forecast, only 366 of the 1,044 planned eVTOL vertiports have been contracted to named suppliers, costing an estimated $1.09 billion to build and equip them with the necessary AAM-focused technology, including chargers.
We recommend checking out the full eVTOL vertiport report as it offers an exciting insight into a young but fast-moving new air mobility segment, including a global market directory of each program that identifies each of the respective partners involved in each project.
The report also features a comprehensive country-by-country guide to AAM regulatory and market development approaches taken by national and regional governments, along with each region’s plans to advance eVTOL-based services.
We’ve seen regions like the United Arab Emirates, China, and Korea put funding and research into commercial eVTOL operations, such as air taxi networks. Still, the US has several startups looking to establish their services in North America in congested coastal cities like Los Angeles and Miami.
What do you think? Will we be able to take an eVTOL air taxi ride to the airport or the other side of town by 2028? Or will it take more time to get this nascent industry regulated to the point that people feel safe enough to test it out?
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Lectric Ebikes appears to be preparing for a major new product launch, teasing what looks like the next evolution of its wildly popular folding fat tire electric bike. Based on the clues, it looks like a new Lectric XP 4 could be inbound.
In a social media post released over the weekend, the company shared a minimalist graphic reading “XP4” along with the message “Tune in 5.6.2025 9:30AM PT.” That date – this Tuesday – suggests we’re just hours away from the big reveal of the Lectric XP 4.
If true, this would mark the next generation of the most successful electric bike in the U.S. market. The current model, the Lectric XP 3.0, has become an icon of accessible, budget-friendly electric mobility. Starting at just $999, the XP 3.0 offers a foldable frame, fat tires, a 500W motor, a rear rack, lights, and hydraulic brakes – all packed into a highly shippable design that arrives fully assembled. It’s the kind of package that has helped Lectric claim the title of best-selling e-bike brand in the U.S. for several years in a row.
With the XP 3.0 still going strong, the teaser raises plenty of questions. Will the XP 4.0 be a modest update or a major leap forward? Could we see new features like torque-sensing pedal assist, a location tracking option, or upgraded performance? Or is Lectric preparing a more comfort-oriented variant, maybe even with upgraded suspension or even more accessories included standard?
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The teaser image, which features stylized stripes in grey, blue, and black, may hold some clues. One theory is that the colors represent new trim options or component upgrades. Another possibility is that Lectric is preparing multiple variants of the XP 4.0 – perhaps targeting commuters, adventurers, and off-road riders with purpose-built versions. We took the liberty of a bit of rampant speculation late last year, so perhaps that’s now worth a revisit.
At the same time though, Lectric’s penchant for launching new models at unbelievably affordable prices has never run up against such strong pricing headwinds as those posed by uncertainty in the current US-global trade war fueled by rapidly changing tariffs for imported goods.
Previous versions of the Lectric XP e-bike line have seen sky-high sales
Whatever the case, Lectric’s knack for surprising the industry with high-value, customer-focused e-bikes means expectations will be high. The brand has built a loyal following by delivering reliable performance at a price point that few can match, and any major update to the XP lineup is likely to ripple across the market.
As a young and energetic e-bike company, Lectric is also known for throwing impressive parties around the launch of new models. It looks like I may need to hop on a red-eye to Phoenix so I can see for myself – and so I can bring you all along, of course.
Be sure to tune in Tuesday at 9:30AM PT to see what Lectric has in store – and you can bet we’ll have all the details and first impressions as soon as they drop.
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Logo of the Organization of the Petroleum Exporting Countries (OPEC)
Andrey Rudakov | Bloomberg | Getty Images
U.S. crude oil futures fell more than 4% on Sunday, after OPEC+ agreed to surge production for a second month.
U.S. crude was down $2.49, or 4.27%, to $55.80 a barrel shortly after trading opened. Global benchmark Brent fell $2.39, or 3.9%, to $58.90 per barrel. Oil prices have fallen more than 20% this year.
The eight producers in the group, led by Saudi Arabia, agreed on Saturday to increase output by another 411,000 barrels per day in June. The decision comes a month after OPEC+ surprised the market by agreeing to surge production in May by the same amount.
The June production hike is nearly triple the 140,000 bpd that Goldman Sachs had originally forecast. OPEC+ is bringing more than 800,000 bpd of additional supply to the market over the course of two months.
Oil prices in April posted the biggest monthly loss since 2021, as U.S. President Donald Trump’s tariffs have raised fears of a recession that will slow demand at the same time that OPEC+ is quickly increasing supply.
Oilfield service firms such as Baker Hughes and SLB are expecting investment in exploration and production to decline this year due to the weak price environment.
“The prospects of an oversupplied oil market, rising tariffs, uncertainty in Mexico and activity weakness in Saudi Arabia are collectively constraining international upstream spending levels,” Baker Hughes CEO Lorenzo Simonelli said on the company’s first-quarter earnings call on April 25.
Oil majors Chevron and Exxon reported first-quarter earnings last week that fell compared to the same period in 2024 due to lower oil prices.
Goldman is forecasting that U.S. crude and Brent prices will average $59 and $63 per barrel, respectively, this year.
In a bid to keep up with the rapid growth of EVs, Chicago Department of Transportation (CDOT is currently seeking public feedback on a plan called “Chicago Moves Electric Framework.” The city’s first such plan, it outlines initiatives that include a curbside charging pilot through the city’s utility, ComEd, and expanded charging access in key areas throughout the city.
Unlike other such plans, however, the new plan aims to focus on bringing electric vehicle charging to EIEC and low income communities, too.
“Through this framework, we are setting clear goals and identifying solutions that reflect the voices of our residents, communities, and regional partners,” said CDOT Commissioner Tom Carney. “By prioritizing equity and public input, we’re creating a roadmap for electric transportation that serves every neighborhood and helps drive down emissions across Chicago.”
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Neighborhoods on the south and west sides of Chicago experience a disproportionate amount of air pollution and diesel emissions, largely due to vehicle emissions according to CDOT. Despite that, most of Chicago’s public charging stations are clustered in higher-income areas while just 7.8% are in environmental justice neighborhoods that face higher environmental burdens.
“Too often, communities facing the greatest economic and transportation barriers also experience the most air pollution,” explains Chicago Mayor Brandon Johnson. “By prioritizing investments in historically underserved areas and making clean transportation options more affordable and accessible, we can improve both mobility and public health.”
The Framework identifies other near-term policy objectives, as well – such as streamlining the EV charger installation process for businesses and residents and implementing “Low-Emission Zones” in areas disproportionately impacted by air pollution by limiting, or even restricting, access to conventional medium- and heavy-duty vehicles during peak hours.
The Chicago Moves Electric Framework includes the installation of Level 2 and DC fast charging stations in public locations such as libraries and Chicago’s Midway Airport, “supporting not only personal EVs but also electric taxis, ride-hail and commercial fleets.”
Chicago has a goal of installing 2,500 public passenger EV charging stations and electrifying the city’s entire municipal vehicle fleet by 2035.
Electrek’s Take
ComEd press conference at Chicago Drives Electric, 2024; by the author.