Chung Euisun, executive vice chairman at Hyundai Motor Group, has vowed that the auto group will develop its own flying car technology by 2023 and commercialize air taxi service by 2029.

Chung Euisun, Executive Vice Chairman of Hyundai Motor Group, has unveiled lofty ambitions of the Korean auto giant taking on aerial mobility at last week’s Mobility Innovators Forum 2019 in San Francisco.

“Our plan is to introduce UAM vehicles in 2023 and to provide its commercial service in 2029 after ironing out regulation issues,” Chung said in a hope that such flying cars can resolve the current traffic issues in urban areas.

Hyundai Motor Group has big plans for being involved in aerial mobility by 2023 as announced by Chung Euisun, executive vice chairman at the company.

“Even electric vehicles and micro scooters, considered innovative means, cannot address those pending issues stemming from restricted road conditions because they are still road transportation means,” said Chung. “It would be difficult to address the fundamental issues without an urban planning that can embrace new types of mobility” such as flying cars.

Chung Euisun, executive vice chairman at Hyundai Motor Group, unveiled its plans for UAM at the Mobility Innovators Forum 2019 in San Francisco.

The company has already begun studying a potential step into the aerial mobility space and has dedicated a division to the development of their related technologies and business activities. Hyundai has recruited one of NASA’s top managers as its vice president to lead the division.

“Having worked on cutting-edge aviation research and development at NASA for 30 years, I am very excited and humbled by the opportunity to now shape urban air mobility strategy at Hyundai Motor Group. The new team at Hyundai will develop core technologies that will establish the company as a driving force in urban air mobility, a sector that is expected to grow into a market worth USD 1.5 trillion within the next 20 years.” Dr. Shin stated of his new role.

Hyundai has also set up the Human-Centered City Advisory Group which will help develop a vision for future cities, which hopes to build a guideline for future smart city development. While in San Francisco, Chung met with various technology startup leaders such as Uber CEO Dara Khosrowshahi. The executive vice chairman is also known to be directly involved in startup investment and encouraging employees to take bold initiatives from the beginning.

Why it matters: The automotive industry will be a key factor in accelerating the growth of the aerial mobility demand forecasts. The industry offers low-cost scaled manufacturing and operations expertise which will be vital to eVTOL’s commercial success. Hyundai’s commitment to aerial mobility and future city planning will likely garner the interest of other automotive OEMs around the world, increasing competition within the eVTOL space.

Source // Pulse News

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