Hyundai would create a flying taxi

Created on 22.10.2019 11:09

Hyundai has created the Urban Air Mobility Division, which will develop a technology for urban aircrafts. The project funding has not yet been determined, according to

The created division will be engaged in the basic technologies developments, that should make the South Korean car manufacturer a leader in the urban air transportation market. The volume of this market, according to Hyundai forecasts, will reach $ 1.5 trillion in the next 20 years. The project aims to solve the issues of high traffic loads in major cities worldwide.

Hyundai will have to face the competitors in this area - Uber, Airbus and Boeing. Both Uber and Boeing plan to launch commercial aerotaxi-drone flights in next year. Meanwhile, the Dutch company PAL-V was the first to sell its models of flying vehicles that can be operated both in the air and on the ground. The price of machines would be 600 thousand and 400 thousand dollars, correspondingly, which is consistent with forecasted price range for aircrafts within 200-600 thousand dollars.