Hyundai Motor North America President: "Commercialization of Air Taxi by 2025"

[Asia Economy Reporter Changhwan Lee] Hyundai Motor Company's North American headquarters announced that it will commercialize air taxis by 2025.

Jose Munoz, Hyundai Motor's Global Chief Operating Officer (COO) and Head of North America, said in a local media interview on the 14th (local time), "We see the air taxi market as an important growth opportunity," and added, "We are accelerating the launch schedule."

Hyundai Motor had previously set a goal to jointly develop air taxis with Uber by 2028, but this timeline has been moved up by three years.

Hyundai Motor revealed last year its plan for 'air taxis' that transport 5 to 6 passengers using electric battery-powered aircraft connecting Los Angeles (LA) Airport, New York John F. Kennedy Airport, and major city hubs.

In addition to Hyundai Motor, major global automakers are also rushing to develop air taxis. GM (General Motors) has announced plans to develop air taxis by 2030.

Toyota, Daimler, and Chinese automobile companies are also competing to develop flying cars with startup companies.

Morgan Stanley projected that the flying mobility market will reach $1 trillion (approximately 1,120 trillion KRW) by 2040 and $9 trillion (approximately 1,000 trillion KRW) by 2050.