The Airspeeder vehicle, which weighs about 550 pounds, uses a battery pack that can be swapped out during the race. The packs are expected to last for about 15 minutes. Four 32-horsepower electric motors propel the cars to a top speed of about 125 miles per hour. The vehicle tears through the air between about 15 and 130 feet off the ground.

Matt Pearson, founder of Alauda and the Airspeeder series, said:

In economic terms, the eVTOL (Electrical Vertical Take Off and Landing) sector has the potential to be worth €1.37 trillion ($ 1.5 trillion) by 2040. It is backed by some of the biggest names in aviation, technology, and automotive.