Urban-Air Port Ltd has announced it is partnering with Hyundai Air Mobility (a Hyundai Motor Group division) to develop urban air mobility structure to move people and cargo by air, the company said.
The companies will explore a new, purpose built, multifunctional and scalable Urban Air Mobility (UAM) urban transportation systems infrastructure.
Hyundai plans to invest USD 1.5 billion in UAM over the next five years to create an air vehicle and the supporting mobility ecosystem for UAM operations.
Hyundai forecasts the air mobility market will be worth nearly USD 1.5tn over the next 20 years. While vehicle development is crucial and underway, an urgent need for appropriate ground infrastructure remains one of the biggest constraints on the growing sector, according to NASA and industry leaders.
Urban-Air Port Ltd is a wholly owned subsidiary of small. (Six Miles Across London Limited). small. consists of a group of UK-based Urban DeepTech companies focusing on Future Mobility; Urban.AV (Autonomous Vehicles), Urban.MASS (Mass Transit) and Urban-Air Port.
Established in 1967, Hyundai Motor Company is committed to becoming a lifetime partner in automobiles and beyond with its range of world-class vehicles and mobility services available in more than 200 countries.