The Easy-to-Understand Guide to Who Has Money and Who Doesn’t
Let me start with something simple: the eVTOL market is not about who builds the best aircraft. It’s about who has the most money.
Money is equal to Time and Time is equal to Success.
In April 2026, the funding picture changed. Vertical Aerospace got $850 million. Lilium is looking for more money. Volocopter is struggling. Joby has lots of money. Archer has big company support.
Let’s look at the actual numbers and understand what they mean.
How Much Money Does Each Company Have?
Let me be straightforward about this.
Joby Aviation has $976 million. Toyota gave Joby a huge check. Intel gave Joby money too. JetBlue gave Joby money. These are real companies, not just venture capitalists taking risks.
Archer Aviation has $550 million. But Archer has something more important: Stellantis. Stellantis is a giant car company worth $50 billion and is not just giving Archer money. Stellantis is helping Archer build factories and make aircraft.
Lilium has $350 million. But Lilium hasn’t raised new money since 2021. That’s five years ago. Lilium burns $80 million every year. That’s a problem.
EHang Holdings has $400 million. But EHang is different and already making money. The company is already flying passengers today. EHang doesn’t need more money like other companies.
Volocopter has $250 million. But Volocopter hasn’t raised big money in years. Every year, Volocopter spends $60 million on development. At this rate, the company will run out of money in 4-5 years.
Vertical Aerospace just raised $850 million. Six months ago, Vertical was running low on cash. Now the company has $1.05 billion total. This changes things for Vertical.
Why Does Money Matter So Much?
Flying/Air taxi companies spend a lot of money every year. All companies individually required $50 million to $100 million annually. Some spend more.
If Joby has $976 million and spends $80 million per year, Joby can operate for 12 years without making any money. That’s plenty of time to launch and become profitable.
If Lilium has $350 million and spends $80 million per year, Lilium can operate for only 4-5 years. That’s tight. Lilium needs to launch flying taxis FAST or find more money.
Here’s the simple truth:
Joby: Can wait and develop slowly = has 12+ years of money
Archer: Can develop fast with Stellantis help = has 8+ years of money
EHang: Makes money from flying taxis today = doesn’t need more money
Vertical: Just got 15+ years of money from new funding
Lilium: Needs to launch soon or find money = 4-5 years left
Volocopter: Needs money urgently = 4 years left
Who Funded These Companies?
Let’s understand what the money sources tell us.
Joby’s Money Sources
Toyota gave Joby $590 million in 2020. That’s a big number. Toyota doesn’t give away $590 million to companies that might fail. Toyota only puts money into companies Toyota believes in.
Intel also backed Joby. Airlines like Delta, United, and JetBlue are investors too.
What does this mean? Toyota, Intel, and airlines all believe Joby will succeed. They’re putting real money in. That’s strong support.
Archer’s Money Sources
Archer got $550 million from venture capital. But the real story is Stellantis.
Stellantis is building factories for Archer. Stellantis is not just giving money. Stellantis is using Stellantis’s manufacturing knowledge to help Archer build aircraft faster.
United Airlines is not just an investor. United Airlines will buy Archer aircraft and use them.
What does this mean? Stellantis and United Airlines are saying: “We believe flying taxis will really exist. We’re going to make money from this.”
Lilium’s Money Sources
Lilium got $350 million from venture capitalists. No big car company is supporting Lilium like Stellantis supports Archer. No airline has promised to buy Lilium aircraft like United Airlines promised to buy Archer aircraft.
This is important. When big companies back startups, it usually means those big companies see real opportunities.
EHang’s Money Sources
EHang has $400 million. EHang is already flying paying passengers in China. EHang doesn’t need venture capitalists to tell EHang that flying taxis work. EHang already knows it works.
Volocopter’s Money Sources
Volocopter has been raising money since 2012. That’s 14 years of fundraising. But Volocopter only has $250 million. That’s much less than Joby and Archer.
In 14 years, Volocopter should have raised a lot of money. But Volocopter hasn’t.
Vertical Aerospace’s Money Sources
Yorkville Advisors gave Vertical $250 million. This is institutional money. Yorkville doesn’t put money into companies with unproven technology. Yorkville puts money into companies with real progress.
Mudrick Capital gave Vertical $50 million. Mudrick supports aerospace companies. Mudrick knows about aerospace.
What does this mean? Serious professional investors believe Vertical has real technology and real chances to succeed.
Ranking Companies by Money and Time
Here’s a simple ranking of who has the most runway (time):
Rank 1: Vertical Aerospace
Money: $1.05 billion
Runway: 15-20 years (plenty of time)
Rank 2: Joby Aviation
Money: $976 million
Runway: 12+ years (plenty of time)
Rank 3: Archer Aviation
Money: $550 million + Stellantis help
Runway: 8+ years (good)
Rank 4: EHang Holdings
Money: $400 million + making money
Runway: Unlimited (already profitable)
Rank 5: Lilium
Money: $350 million
Runway: 4-5 years (needs to hurry)
Rank 6: Volocopter
Money: $250 million
Runway: 4 years (critical situation)
What The Numbers Really Mean
Let’s be honest about what this funding tells us:
Joby has the most money. Joby’s big supporters are Toyota and Intel. These companies don’t put $590 million into companies that will fail. Toyota is saying Joby will win.
Archer doesn’t have the most money, but Stellantis support is huge. Stellantis is a $50 billion company. When a company that size backs you, that’s powerful. Archer has a real path to success in the U.S. market.
Lilium has innovation but is running out of time. Lilium invented jet-powered flying taxis. That’s cool. But Lilium hasn’t raised new money since 2021. Big investors are not rushing to give Lilium more money.
EHang is already profitable. EHang doesn’t need venture capital. EHang is already operating. This is different from all the other companies.
Volocopter is in trouble. Volocopter has been raising money since 2012 but only has $250 million. In 14 years, Volocopter should have raised more. Big companies are not supporting Volocopter like they support Joby and Archer.
Vertical Aerospace got a lifeline in April 2026. Six months earlier, Vertical was struggling. Now Vertical has serious money. Vertical can now compete.
My Opinion: Amit’s Honest Opinion
I am continuously watching eVTOL companies. Here’s what I really think:
Joby has the most money. Joby will probably win the global market. I’m not saying this because Joby’s aircraft is the best. I’m saying this because Toyota and Intel believe Joby will win.
Archer will be the strong second place player. Archer has Stellantis. Archer has United Airlines. Archer can build aircraft at scale. Archer will probably dominate the U.S. market.
Lilium is in trouble. Lilium has great technology but is running out of cash. If Lilium can’t raise another $300 million quickly, Lilium will either merge with another company or get acquired.
Volocopter is in critical trouble. Volocopter has less money than everyone else and has been raising money since 2012 but only has $250 million. I don’t think Volocopter survives independently. Volocopter will probably get acquired or merge.
Vertical Aerospace just extended its life. Vertical’s new $850 million funding is huge. Vertical can now compete for real.
EHang is unique. EHang is already making money and doesn’t compete with Joby and Archer in the U.S. or Europe. EHang owns Asia.
My prediction for 2030:
Joby will be the global leader. Archer will own the U.S. market. Lilium will either be acquired or merge with another European company. Volocopter will probably get acquired. Vertical will be the third-place company if it executes well. EHang will own Asia and be very profitable.
Conclusion
In the eVTOL market, money is power. The companies with the most money win.
Joby has the most money and the best supporters. Joby will probably win.
Archer has good money and Stellantis support. Archer will be successful.
Lilium and Volocopter are running out of time. They need to raise more money or get acquired.
Vertical got lucky and raised $850 million. Vertical now has a real chance.
EHang already won in Asia by being profitable today.
Want To Learn More?
Read our articles about each company:
- Joby Aviation: The Flying Taxi Company Backed by Toyota
- Archer Aviation: United Airlines Flying Taxi Partner
- Lilium: The Jet-Powered eVTOL Company
- EHang Holdings: The Company Already Flying Passengers
- Volocopter: German Engineering Meets eVTOL
- Vertical Aerospace: The British Company That Just Saved Itself
Have questions? Contact us at contact@airtaxicentral.com or email Amit at amit@airtaxicentral.com.
Air Taxi Central | Covering the eVTOL Revolution
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