Today, Hyundai flew into the race for the flying car, according to Engadget.
The company’s first step towards developing flying vehicles was appointing former NASA engineer Dr. Jaiwon Shin to lead the initiative and cement the formation of their new Urban Air Mobility (UAM) division. Shin’s most recent occupation prior to his new role was as the leader of NASA’s Aeronautics Research Mission Directorate.
Hyundai is getting into the UAM sector due to the lucrative expectations set out for the future.
According to Hyundai, the UAM sector is expected to expand to $1.5 trillion within the next 20 years. Although, Hyundai is a little late to the party. Uber has been working on a flying taxi, Volocopter has an 18 rotor autonomous air taxi, Lilium’s flying taxi can carry up to 5 passengers, and Boeing has recently announced its own pursuit of flying vehicles
To make up for lost time, Hyundai hopes that Shin’s extensive experience working on projects such as the supersonic X-plane that could transport individuals from Los Angeles to New York in 2 hours, electric aircraft, and unmanned aircraft system will give them an edge over the competition.
Hyundai has officially joined the flying car race, and it will be interesting to see who lands first.