The world's first'city of the future' is nearly ready to welcome its first residents. Developed by car maker Toyota, 'Woven City' sits at the base of Mount Fuji in Japan and features at least 11 'smart' homes powered by hydrogen, AI and other technologies. CEO Akio Toyoda said the 10 billion utopia would serve as a'lab' for innovators to develop the technologies of tomorrow. The city is poised to welcome its first 100 residents, which will be employees, this fall, who will live there for free -- though they'll need to already be Toyota employees and work on developing experimental tech for the company. The program will then expand to 2,200 more people, who will include innovators and their families, parents and pets.

The air taxi, much like self-driving cars and delivery drones, is one of those futuristic dreams that seem forever three years away. But recent progress made by leading industry players suggests the concept is finally, slowly, maturing to commercialization. The idea of an urban air taxi is pioneered by Silicon Valley startups that make eVTOLs--electric vertical-takeoff-and-landing vehicles. But compared to electric cars, battery-powered aircraft face bigger challenges on both technical and regulatory fronts, let alone the public's acceptance. On June 21, Archer Aviation, a California-based eVTOL startup traded on the New York Stock Exchange, said it had recently begun testing a prototype called Maker with a new configuration that supports "transition flight"--the transition between an aircraft being lifted by vertical propellers and being carried by the wings for horizontal movement.

As suspected, and following a similar deal yesterday to offload its self-driving taxi technology to autonomous vehicle startup Aurora, Uber announced Tuesday that it has sold its flying taxi service, Uber Elevate to California-based Joby Aviation. Joby already makes electric VTOL aircraft so it is acquiring Uber's aerial ride-hailing division. Doing so will allow the startup access to Uber's app infrastructure -- and vice versa, essentially integrating their respective ground and air apps -- once Joby's aircraft are FAA certified. That is expected to happen within the next few years and could be completed as soon as 2023. "We were proud to partner with Uber Elevate last year and we're even prouder to be welcoming them into the Joby team today," Joby Aviation founder and CEO JoeBen Bevirt said in a Tuesday release.

SAN FRANCISCO – Toyota Motor Co. is making a $394 million (¥43.3 billion) investment in Joby Aviation, one of the handful of companies with the seemingly implausible goal of making electric air taxis that shuttle people over gridlocked highways and city streets. Toyota is the lead investor in Joby's $590 million Series C funding, alongside Baillie Gifford and Global Oryx and prior backers Intel Capital, Capricorn Investment Group, JetBlue Technology Ventures, SPARX Group and its own investment arm, Toyota AI Ventures. The deal, for now, makes the Santa Cruz, California-based Joby the best-funded "eVTOL" (electric vertical take-off and landing) startup in a booming category that must overcome significant regulatory hurdles and concerns about passenger safety and noise, bringing the total money it has raised to $720 million. "Air transportation has been a long-term goal for Toyota, and while we continue our work in the automobile business, this agreement sets our sights to the sky," said Toyota President and Chief Executive Officer Akio Toyoda. "As we take up the challenge of air transportation together with Joby, an innovator in the emerging eVTOL space, we tap the potential to revolutionize future transportation and life."

Two start-ups leading the race to build the first self-flying taxis are using money from the US military. Last year, Kitty Hawk and Joby Aviation received a total of nearly $2m from the Defense Innovation Unit Experimental (DIUx), a Pentagon organization founded to help America's military make faster use of emerging technologies. Neither company, nor the DIUx, disclosed the funding at the time. The website for Cora, Kitty Hawk's experimental air taxi, emphasizes its role in solving urban transportation challenges: "Cora is about the time you could save soaring over traffic. The people you could visit.

Two start-ups leading the race to build the first self-flying taxis are using money from the US military. Last year, Kitty Hawk and Joby Aviation received a total of nearly $2m from the Defense Innovation Unit Experimental (DIUx), a Pentagon organization founded to help America's military make faster use of emerging technologies. Neither company, nor the DIUx, disclosed the funding at the time. The website for Cora, Kitty Hawk's experimental air taxi, emphasizes its role in solving urban transportation challenges: "Cora is about the time you could save soaring over traffic. The people you could visit.