Core Insights - The eVTOL industry is progressing, with long-term potential but short-term challenges for companies like Joby Aviation and Archer Aviation [1][2] Industry Overview - eVTOLs are expected to begin commercial service in the next 12–18 months, with mass adoption anticipated by the mid-2030s [2] - The market for eVTOLs could exceed $1 trillion in the future, but initial revenues will likely be in the premium urban air mobility sector [2] Company Developments - Joby Aviation received a $250 million investment from Toyota, aimed at supporting certification and commercial production, enhancing their manufacturing capabilities [4][5] - Joby is making progress with successful test flights, while Archer is moving towards piloted trials [3] Challenges and Risks - Regulatory certification, vertiport infrastructure, and propulsion technology reliability are significant hurdles for the eVTOL industry [3] - Archer Aviation faces scrutiny from short sellers, with accusations of misleading investors regarding its Midnight Edition eVTOL's performance and commercialization timeline [5] - JPMorgan expresses caution regarding U.S. firms, noting that international competitors, particularly from China and the Middle East, may have advantages due to government support and funding [5]