Japanese automaker Suzuki Motor announced on Tuesday that it has entered into a partnership with SkyDrive to develop and manufacture electric vertical take-off and landing (eVTOL) aircraft, commonly known as “flying cars.” The collaboration will utilize a Suzuki Group factory located in central Japan, with production expected to commence in the spring of next year, as stated in Suzuki’s official statement.
As part of the agreement, SkyDrive will establish a wholly-owned subsidiary dedicated to the production of these advanced aircraft. Suzuki, on the other hand, will provide assistance in various manufacturing aspects, including talent acquisition and preparation.
In summary, Suzuki Motor and SkyDrive have joined forces to produce eVTOL aircraft at a Suzuki factory in central Japan. The companies aim to start manufacturing in the coming spring and will collaborate closely to ensure the successful execution of this exciting venture.
SkyDrive, a company headquartered in Toyota, central Japan, counts major shareholders such as trading house Itochu, tech firm NEC Corp, and a subsidiary of energy company Eneos Holdings.
In March of the previous year, Suzuki and SkyDrive entered into a collaborative agreement encompassing research, development, and marketing efforts related to flying cars. They expressed their intention to explore new markets, with a particular focus on India, where Suzuki holds a significant share of the automotive market. Additionally, Suzuki revealed its plan to invest Rs. 10,420 crores in its Indian factory to facilitate the production of electric vehicles and batteries.
Specific details regarding the financial investments made in the partnership, as well as a precise production timeline and targets, were not disclosed by the companies.
SkyDrive, headquartered in Tokyo and established in 2018, boasts prominent Japanese businesses such as Itochu (a trading house), NEC (a technology firm), and an Eneos Holdings subsidiary among its major shareholders. The company successfully raised a total of CNY 5.1 billion (approximately 320 crores) in Series B funds in 2020, according to information available on its website.
