Kittyhawk, a flying car company backed financially by Google co-founder Larry Page, announced it was shutting down operations Wednesday.
The company had recently completed work on Heaviside, a flying car prototype meant to operate quietly in denser living spaces.
After pivoting to research and development, “the company couldn’t see a way forward. Laid-off staff have been given four months of severance pay,” an unnamed Kittyhawk employee told Business Insider.
The company also faced more competition in the electric vertical takeoff and landing aircraft (eVTOL) space from fellow air taxi developers, including Archer Aviation and Joby Aviation.
The outfit’s Wisk Aero joint venture with Boeing is set to continue.
“Kittyhawk’s decision to cease operations does not change Boeing’s commitment to Wisk. We are … excited to see the work they are doing to drive innovation and sustainability through the future of electric air travel,” a Boeing spokesperson told Bloomberg.