‘Flying car’ company SkyDrive Inc and Suzuki Motor Corp announced a partnership on Tuesday to collaborate on the research, development, and marketing of electric, vertical takeoff and landing aircraft.
The two companies said in a joint statement that they will also work to expand into new markets, with an initial focus on India, where Suzuki controls roughly half of the auto market.
Suzuki announced Sunday that it will invest 104.4 billion rupees ($1.37 billion) in its India factory, which will manufacture electric vehicles and batteries.
The companies did not disclose the financial details of their partnership, nor did they specify a production schedule or target.
SkyDrive was founded in 2018 and is headquartered in Tokyo. Its major shareholders include trading house Itochu Corp (8001.T), technology company NEC Corp (6701.T), and a subsidiary of energy company Eneos Holdings Inc (5020.T).
According to its website, it raised 5.1 billion yen ($42 million) in Series B funds in 2020.
SkyDrive is currently developing a small, two-seat electric flying car with the goal of mass production.
Suzuki did not specify whether it would work on this particular vehicle in the statement.
The company, which is also developing cargo drones, intends to launch a ‘flying car’ service in Osaka in 2025, during the city’s hosting of the World Expo.
According to the statement, the partnership will add ‘flying cars’ to Suzuki’s existing mobility businesses of automobiles, motorcycles, and outboard motors.
