Fancy a high-speed flying jet taxi? Tencent’s got you covered
Select language to see a machine translation of this article. The original language of the Article is English and the translation is provided for your convenience.

Fancy a high-speed flying jet taxi? Tencent’s got you covered

Tencent Holdings is best known as the Chinese internet giant that is making waves with its mobile gaming and social media products. But it might also have an interest in futuristic taxis. The company recently invested in Lilium GmbH, a German startup that wants to bring a “flying jet taxi” to market, which promises to get passengers from downtown Manhattan to JFK airport in just five minutes.

Tencent’s share price has risen by 57% so far this year

tencent0609

SOURCE: Yahoo Finance

Seating five people and flying at 186 mph, Lilium’s sky taxi might sound like something out of science fiction story – but it’s not as far away as you think. The company’s already conducted a successful flight with a two-seater prototype last April.

Tencent’s interest in the vehicle, according to Lilium, is due to its ability to improve how people get around, and leapfrog some infrastructural spending in regions including Asia. The company’s chief commercial officer, Remo Gerber, said: “We think our technology could be rapidly adopted in urban areas or between cities – all you need is a landing pad. We’re looking for partners who can operate it, at a cost similar to train transport or taxi for passengers.”

Lilium was founded by a group of academics from the Technical university of Munch, and its backers include the European Space Agency.

Disclosure

Dominion holds Tencent in its Global Trends Ecommerce Fund.  


If you would you like to receive the Newsfeeds daily, please click here to sign up now!

Help us make this Newsfeed better by rating this article. 1 star = Poor and 5 stars = Excellent
0.0/5 rating (0 votes)

Disclaimer
The views expressed in this article are those of the author at the date of publication and not necessarily those of Dominion Fund Management Limited. The content of this article is not intended as investment advice and will not be updated after publication. Images, video, quotations from literature and any such material which may be subject to copyright is reproduced in whole or in part in this article on the basis of Fair use as applied to news reporting and journalistic comment on events.