Airbus is inching closer to the very first test flight of its Electric Aircraft and says a ride in the vehicle will be as cheap “as taking a taxi” per mile.
Airbus’ Silicon Valley arm is developing a flying taxi as part of an effort to alleviate congestion by taking commuting to the skies. Zach Lovering, the project leader, provided Business Insider with a sneak peek of what its prototype will look like, saying it will cost passengers between $1.50 to $2.50 per mile.

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The Electric aircraft, called Project Vahana, will fly autonomously and rely on eight rotors to take off vertically. Airbus will test its first prototype, which will have a range of 50 kilometers (31 miles), by the end of 2017.

The final version, which is set to hit the market in 2020, will be able to fly for 100 kilometers (62 miles). Airbus will use swappable batteries to keep its aircraft operational.

“To get those costs down, the biggest driver by far is the electric propulsion system,” Lovering told Business Insider.

Airbus isn’t the only company pursuing vertical take-off aircrafts as an alternative form of city transit. Germany’s e-Volo and Uber are also planning to release flying taxi services by 2018 and 2021, respectively.
But Airbus is the first company to release an expected price for its service.
Naturally, trips in flying taxis are bound to last longer than the majority of quick cab rides. But it shows Airbus is trying to keep prices competitive for people willing to weigh the difference between taking a cab or electric aircraft to an airport.

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