Boeing partners with Porsche to develop urban air mobility ecosystem

Boeing (NYSE: BA) has announced it has signed a Memorandum of Understanding with Porsche to explore the premium urban air mobility market and the extension of urban traffic into airspace, the company said.

With this partnership, both companies will leverage their unique market strengths and insights to study the future of premium personal urban air mobility vehicles.

Porsche said it is looking to enhance its scope as a sports car manufacturer by becoming a leading brand for premium mobility.

As part of the partnership, the companies will create an international team to address various aspects of urban air mobility, including analysis of the market potential for premium vehicles and possible use cases.

Boeing, Porsche and Boeing subsidiary Aurora Flight Sciences are also developing a concept for a fully electric vertical takeoff and landing vehicle. Engineers from both companies, as well as Porsche subsidiaries Porsche Engineering Services GmbH and Studio F.A. Porsche, will implement and test a prototype.

Boeing is an aerospace company and provider of commercial airplanes, defense, space and security systems, and global services. As a US exporter, the company supports commercial and government customers in more than 150 countries.