[Asia Economy Reporter Yoo Hyun-seok] Vessel is showing strong performance following news that Hyundai Motor Company has made an equity investment in the UK mobility company Urban-Airport.
As of 1:47 PM on the 20th, Vessel was trading at 3,635 KRW, up 5.67% (195 KRW) compared to the previous trading day.
According to foreign media on the same day, the entity acquiring shares in Urban-Airport appears to be Supernal, Hyundai Motor's independent urban air mobility (UAM) subsidiary in the United States. Supernal was established in November last year and is conducting research and development (R&D) on electric vertical takeoff and landing (eVTOL) devices.
Shin Jae-won, head of Hyundai Motor's Urban Air Mobility (UAM) division, stated, "This equity investment will serve as a catalyst to form an advanced aviation mobility market."
Jung Eui-sun, Chairman of Hyundai Motor Group, emphasized a new leap forward through new future growth engines in his New Year's address last year, stating, "50% of future businesses will be automobiles, 30% UAM, and 20% robotics."
Meanwhile, Vessel is known to have jointly participated in a national project consortium for autonomous flying personal air vehicles with Hyundai Motor.
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