Urban-Air Port Ltd and Hyundai Air Mobility Partner to Develop
Urban-Air Port Ltd and Hyundai Air Mobility Partner to Develop Urban Air Mobility Infrastructure
Collaboration aims to create smart mobility solutions that puts people first, connects communities and generates shared value.LONDON, July 30, 2020 — (PRNewswire) — Urban-Air Port Ltd and Hyundai Air Mobility (a Hyundai Motor Group division) have announced a partnership to explore new, purpose built, multifunctional and scalable infrastructure to enable Urban Air Mobility (UAM) – urban transportation systems to move people and cargo by air. Hyundai plans to invest $1.5B in UAM over the next five years to create an air vehicle and the supporting mobility ecosystem for UAM operations.
Hyundai forecasts the air mobility market will be worth nearly $1.5T over the next 20 years. While vehicle development is crucial and underway, an urgent need for appropriate ground infrastructure remains one of the biggest constraints on the growing sector, according to NASA and industry leaders.
"As part of Hyundai Motor Group, our Air Mobility division is intent on supporting the development of human-centred cities through innovation," said Dr. Jaiwon Shin, Head of Hyundai Air Mobility.
Hyundai's and Urban-Air Port's goals in this partnership are fully aligned - transforming cities for the better by creating a versatile infrastructure that enables...