Simultaneously, the company has said it will launch an air taxi-style commuter service to operate the aircraft, which it hopes to have up in the air in 2024.
The Vy pivots from an aircraft capable of helicopter-style take off and landing (albeit with two main overhead rotors rather than one) to one capable of cruising at 405 mph (652 km/h) by virtue of its tilt-wing design. Essentially, by rotating its wings those take off and landing rotors become outsized propellers in "airplane mode."
The company claims this is three times faster than traditional helicopters, though that's only really true if you pick a traditional helicopter of one third the speed. But, multiples aside, 405 mph is much faster than a helicopter. Let's just move on.