South Korea’s largest automaker, Hyundai Motor, intends to launch a series of flying cars in a few years. The auto giant is working on a line of models that is slated to debut in 2028, Bloomberg reports.
Hyundai Motor Group is developing models that will carry five or six people in metropolitan airspace, as well as a larger version of the car for flights between cities. Jaiwon Shin, head of Hyundai’s urban air mobility division, spoke about this in an interview. According to him, the company expects to enter the market in 2028.
“People who are constantly in a traffic jam will understand how convenient it is to get around with an aircraft,” explains Shin. “That’s when we will see a sharp rise in demand.”
Regardless of regulatory requirements and safety barriers, many aircraft manufacturers, automakers and startups are looking to transform the transportation industry with flying cars and parcel drones. Morgan Stanley analysts are the most optimistic prediction that such technology could lead to industry development of $2,9 trillion by 2040. Even their most pessimistic view puts it at $ 615 billion.
Hyundai showcased a flying car concept developed in partnership with Uber Technologies Inc. at the Consumer Electronics Show in Las Vegas earlier this year.
In the coming years, the industry and regulators must address issues such as the type of pilot’s license and how to eliminate or minimize the likelihood of accidents. New regulations and infrastructure are required to ensure that vehicles do not interfere with the movement of aircraft and helicopters.