Suzuki, SkyDrive sign deal to develop ‘flying cars’
THE COMPANIES HAVE TEAMED UP FOR R&D AND MARKETING OF VERTICAL TAKEOFF AND LANDING AIRCRAFT
TOKYO: Japanese automaker Suzuki Motor Corp and ‘flying car’ firm SkyDrive Inc have signed a deal to team up in research, development and marketing of electric, vertical take-off and landing aircraft, they said on Tuesday.
The two companies said they will also work to open up new markets with an initial focus on India, where Suzuki has roughly half of the share of the auto market. Suzuki announced on Sunday that it plans to invest Rs104.4 billion ($1.37 billion) in its India factory to produce electric vehicles and batteries.
The companies didn’t disclose details of investments in their partnership, nor outline any production timetable or target.
Founded in 2018, Tokyoheadquartered SkyDrive counts big Japan businesses such as trading house Itochu Corp, tech firm NEC Corp, and a unit of energy company Eneos Holdings Inc among its main shareholders. In 2020 it raised 5.1 billion yen ($42 million) in total in Series B funds, according to its website.
SkyDrive is engaged in the development of a compact, two-seater electric-powered flying car with plans for fullscale production. The statement did not say whether Suzuki would be working on this specific vehicle.
The company, which is also developing cargo drones, aims to launch a ‘flying car’ service in Osaka in 2025 when the Japanese city hosts the World Expo. For Suzuki, the partnership will add ‘flying cars’ as a fourth mobility business, in addition to automobiles, motorcycles and outboard motors, it said.