Japan is quickly becoming a hub for eVTOL and air taxi technology. This morning, Archer Aviation announced it is the latest sustainable aviation developer to sign a deal in the region and implement aerial taxi transportation, beginning with Soracle Corporation’s purchase of up to 100 Midnight eVTOL aircraft.
As mentioned above, Japan, although slow in the uptake of all-electric vehicles, appears to be fully embracing the prospect of air taxi networks via electric vertical takeoff and landing (eVTOL) aircraft. As far back as 2021, the Osaka Roundtable, a Japanese organization, announced a partnership with Germany’s Volocopter to strategize on how to develop and implement air taxi networks.
Other companies like SkyDrive have partnered with Japanese OEMs like Suzuki to help build its eVTOL aircraft overseas and even saw government funding in their ventures to continue advanced air mobility (AAM) development.
Earlier this week, Joby Aviation completed its first eVTOL test flight demonstration in Japan alongside executives from Toyota, a large investor. Today, California-based air taxi developer Archer Aviation announced it is joining its competitors overseas and already has its first customer lined up for a potentially large eVTOL order.
Archer forms joint venture to establish air taxis in Japan
Per Archer Aviation, it has signed a joint venture with Soracle Corporation, which itself was established this summer as a joint venture between Sumitomo Corporation and Japan Airlines, headquartered in Tokyo.
To get things started, Soracle intends to launch AAM operations in Japan using Archer’s flagship eVTOL aircraft in order to offer the public all-electric air taxi flights in cities where current ground vehicle transportation is constrained by traffic or geographic barriers.
As part of the joint venture, Soracle has secured the right to order up to 100 Midnight aircraft, totaling approximately $500 million. The terms of that potential purchase include pre-delivery payments based on certain milestones before the eVTOLs are delivered. Soracle CEO Yukihiro Ota shared his thoughts following a signing ceremony held between both companies on September 26, 2024:
Through the operation of eVTOL aircraft, Soracle aims to enrich lives and society by creating more accessible air transportation services in Japan. We will provide safe and reliable services to passengers by making the most of the wealth of knowledge we have accumulated at Japan Airlines and Sumitomo Corporation. Today’s announcement is a first step towards making the future we envision a reality.
To support its incoming fleet of Midnight eVTOLs from Archer, Soracle said it will develop a network of air taxi flight routes in attractive areas that residents, as well as domestic and international visitors, can utilize for speedier travel around Japan. The company hinted that those route locations could include notable metropolitan areas like Tokyo, Osaka, Nagoya, Hokkaido, Setouchi, and Okinawa.
To begin commercializing AAM and air taxi services in Japan, Archer and Soracle shared joint plans to conduct a public flight demonstration at the World Expo to build public support, demonstrate the future of technology, and accelerate investments from stakeholders. The World Expo will take place in Osaka, Kansai, Japan, from April to October 2024.
A view of offshore oil and gas platform Esther in the Pacific Ocean on January 5, 2025 in Seal Beach, California.
Mario Tama | Getty Images
Oil prices jumped on Friday as the U.S. Treasury Department announced sweeping sanctions against Russia’s oil industry.
Brent gained $1.92, or 2.5%, to $78.84 per barrel by 11:12 a.m. ET, while U.S. crude oil advanced $1.89, or 2.56%, to $75.81 per barrel. Brent broke $80 per barrel for the first time since October earlier in day, hitting a session high of $80.75.
The sanctions target Russian oil companies Gazprom Neft and Surgutneftegas and their subsidiaries, more than 180 tankers, and more than a dozen Russian energy officials and executives. The sanctioned executives include Gazprom Neft CEO Aleksandr Valeryevich Dyukov.
The sanctioned vessels are mostly oil tankers that are part of Russia’s “shadow fleet” that has dodged existing sanctions on the country’s energy exports, according to the Treasury Department.
“The United States is taking sweeping action against Russia’s key source of revenue for funding its brutal and illegal war against Ukraine,” Treasury Secretary Janet Yellen said in a statement.
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Brent crude futures, 1 year
“With today’s actions, we are ratcheting up the sanctions risk associated with Russia’s oil trade, including shipping and financial facilitation in support of Russia’s oil exports,” Yellen said.
The perception in the oil market is Indian and Chinese refiners that have imported Russian oil will have to scramble for barrels from the Middle East, said Bob Yawger, executive director of energy futures at Mizuho Securities, in a note to clients Friday.
The Biden administration has sought to ratchet up pressure on Russia and dispense aid to Ukraine before President-elect Donald Trump takes office.
“The Biden administration opted for more robust energy sanctions, which caught the oil market especially complacent about sanctions risks,” said Bob McNally, president of Rapidan Energy Group.
“Therefore, we expect today’s material risk premium in Brent to stick pending signals from the Trump team as to whether they will continue these sanctions,” McNally said.
Hydrostor’s GEM A-CAES has received a conditional loan guarantee of up to $1.76 billion from the US Department of Energy (DOE) to build the Willow Rock Energy Storage Center, a cutting-edge compressed air energy storage (CAES) system, in Eastern Kern County, California.
If everything goes as planned, Willow Rock will bring 500 megawatts (MW) and 4,000 megawatt-hours (MWh) of long-duration energy storage (LDES) to the southern California power grid.
This system will lower energy costs, improve grid reliability during peak demand, and expand the rollout of renewable energy into the grid. Here’s how it works and why it’s unique.
How compressed air energy storage works
CAES technology is all about storing energy for later use, especially when the sun isn’t shining or the wind isn’t blowing. Here’s how it works:
Storing energy: The system takes surplus energy (often from renewable sources like solar or wind) and uses it to compress air, which is stored in underground caverns.
Releasing energy: When the grid needs power, the compressed air is released, passing through a turbine to generate electricity. Willow Rock will be able to dispatch stored energy at full power for over eight-hour periods.
Unlike conventional batteries, CAES can scale up based on the size of the storage cavern and doesn’t rely on scarce critical materials. It’s durable, too –systems like Willow Rock are designed to last over 50 years.
Why advanced CAES is different
Traditional CAES systems face two big challenges: wasted heat and inconsistent power output. Willow Rock’s advanced compressed air energy storage system (A-CAES) technology solves these problems:
Thermal energy capture: Conventional CAES loses around 50% of energy during the air compression process. Willow Rock pairs a proprietary thermal storage system with this process, so it captures, stores, and reuses heat from the compression cycle.
Constant Pressure: Traditional systems lose efficiency as underground air pressure drops. Willow Rock maintains consistent pressure by using water from an above-ground reservoir. As a bonus, the facility will be a net producer of fresh water, as water condensed during the compression process will be captured and reused.
This innovative design means A-CAES systems can be installed in a greater variety of underground conditions – an estimated 80% of US geology could support similar systems, opening the door for wide deployment.
Willow Rock will create up to 700 construction jobs at its peak, and 40 full-time operations roles will follow. These positions require skills similar to those used in the oil and gas industry, making it a natural fit for Kern County, a region with roots in fossil fuel production.
GEM A-CAES is a subsidiary of Hydrostor USA Holdings, a subsidiary of Hydrostor of Canada.
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Chinese EV automaker Build Your Dreams (BYD) has unveiled its ATTO 2 compact SUV to the European public. The launch, which took place at the Brussels Motor Show, kicks off BYD’s next EV entry into European and UK markets. The BYD ATTO 2 is smaller and more affordable than its SUV siblings, with a decent range to boot, perfect for European roads.
The ATTO 2 is a rebranded version of the Chinese EV automaker BYD’s Yuan Up – an ultra-affordable compact SUV that debuted in China in February 2024. BYD may not be bringing “Yuan” branded EVs over to new markets in Europe, but that lineup continues to grow each month.
BYD currently sells four all-electric models in the UK and seven in Europe, including the ATTO 3 SUV. Today, BYD debuted a rebranded version of the Yuan Up called the ATTO 2, which will go on sale to customers in the UK and Europe next month.
BYD unveils ATTO 2 in Brussels, sales begin in February
The Brussels Motor Show recently kicked off as the first major automotive expo in Europe in 2025, and BYD showed up with a new affordable BEV option to complement the ATTO 3. Per BYD executive vice president Stella Li:
We’re excited to start 2025 with another important model for our plans in Europe. The B-segment SUV class is incredibly popular here, and with the ATTO 2, we have an agile and versatile offering that will appeal to that large potential customer base. It takes all of BYD’s strengths in batteries, electric motors and Cell-to-Body construction and combines them in a compact package that brings new intelligent technologies to the urban SUV class.
The ATTO 2 is 4,310mm long, 1,830mm wide, and 1,675mm tall—145mm shorter and 45mm slimmer than its ATTO 3 sibling. Despite its compact size, the ATTO 2 offers up to 1,430 liters of cargo capacity with its rear seat down.
The ATTO 2 also sits atop BYD’s e-Platform 3.0, the first of the brand’s compact SUVs to utilize Cell-to-Body (CTB) construction, which integrates the battery completely into the vehicle chassis—this design results in optimized space and overall increased vehicle rigidity.
Speaking of batteries, the EU and UK customers who opt for an ATTO 2 can experience BYD’s proprietary Blade Batteries, which integrates LFP cells directly instead of fitting them into multiple modules. BYD says customers can choose between two battery sizes in their ATTO 2 order. At launch, a standard range edition will utilize a 45.1 kWh Blade Battery, delivering a (WLTP) 312 km (194 miles) range.
However, BYD said a larger-battery version of the ATTO 2 will arrive in the coming months and offer drivers greater range. The automaker is not yet sharing individual pricing for the ATTO 2 in the UK or Europe. Still, a representative for the company said the compact SUV is expected to land between the BYD Dolphin and ATTO 3 BEVs, which in the UK cost 26,140 GBP ($32,157) and 37,140 GBP ($45,689) respectively.
ATTO 2 sales are expected to begin in February.
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