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Porsche and Boeing join hands to develop flying electric car
German automaker Porsche is teaming up with the worldโ€™s largest aerospace company Boeing to build a flying car.
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Porsche, Boeing and Boeing subsidiary Aurora Flight Sciences are looking to develop a concept for a fully functioning electric vertical takeoff and landing vehicle.

โ€œPorsche is looking to enhance its scope as a sports car manufacturer by becoming a leading brand for premium mobility,โ€ said Porsche exec Detlev von Platen in aย press release. โ€œIn the longer term, this could mean moving into the third dimension of travel.โ€

This unique partnership was announced on Thursday and aims to develop a premium urban air mobility vehicle. The companies will work on concepts to better understand what the market for a flying vehicle might be in the coming years.

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"This collaboration builds on our efforts to develop a safe and efficient new mobility ecosystem, and provides an opportunity to investigate the development of a premium urban air mobility vehicle with a leading automotive brand," saidย Steve Nordlund, Vice President and General Manager of Boeing NeXt, an organization that is laying the foundation for a next-generation mobility ecosystem in which autonomous and piloted vehicles can safely coexist. "Porsche and Boeing together bring precision engineering, style and innovation to accelerate urban air mobility worldwide."

A 2018 study by Porsche Consulting estimates that the urban air mobility market will gain traction after 2025. The study also notes that urban air mobility solutions will transport passengers more quickly and efficiently than the current means of terrestrial transport, at a lower cost with far flexibility.

Itโ€™s no wonder that Porsche and Boeing are not the first companies to try for a chunk of the flying car market.

Kitty Hawk, the flying car company backed by Googleโ€™s Larry Page and led by Udacity co-founder Sebastian Thrun. Volvoโ€™s parent company Geely acquired a flying car startup Terrafugia in 2017 under its name. This startup is tinkering to create the most promising flying car in the world. In the same year, Toyota acquired Cartivatorย which is led by a drone specialistย Masafumi Miwa. Toyota undertook this project to produce a flying vehicle on a speedy basis with the aim of lighting the torch of the 2020 Olympics with this.

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