Jet engine maker joins flying taxi race

British jet engine maker Rolls-Royce has designed a propulsion system for a flying taxi and is seeking partners to help develop a project it hopes could take to the skies as soon as early next decade.

The company said it had drawn up plans for an "electric vertical take-off and landing" (known as EVTOL) vehicle, which could carry four to five people at speeds of up to 404 km/h for about 805 kilometers.

The company, which makes engines for planes, helicopters, and ships, joins a variety of companies racing to develop flying taxis, which could revolutionize the way people travel.