Karem Aircraft has spun off a new company, with backing from South Korean industrial conglomerate Hanwha Systems, to develop its Butterfly electric vertical-takeoff-and-landing (eVTOL) air taxi. Karem is one of six vehicle partners working with Uber on its Elevate urban aerial ridesharing initiative. The others are Bell, Boeing (through Aurora Flight Sciences), Embraer, Jaunt Air Mobility and Pipistrel. Backed by $25 million in Series A investment from Hanwha, the new air taxi company will ...

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