Japan’s Suzuki, SkyDrive sign deal to develop, market ‘flying cars’

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TOKYO (Reuters) – Japanese automaker Suzuki Motor Corp and ‘flying automotive’ agency SkyDrive Inc mentioned on Tuesday they’ve signed a deal to crew up in analysis, growth and advertising of electrical, vertical takeoff and touchdown plane.

In a joint assertion, the 2 corporations mentioned they may also work to open up new markets with an preliminary deal with India, the place Suzuki has a roughly half share of the auto market. Suzuki introduced on Sunday it plans to make investments 104.4 billion rupees ($1.37 billion) in its India manufacturing unit to produce electrical autos and batteries.

The corporations did not disclose particulars of investments of their partnership, nor define any manufacturing timetable or goal.

Founded in 2018, Tokyo-headquartered SkyDrive counts massive Japan companies like buying and selling home Itochu Corp, tech agency NEC Corp and a unit of power firm Eneos Holdings Inc amongst its predominant shareholders. In 2020 it raised 5.1 billion yen ($42 million) in whole in Series B funds, in accordance to its web site.

SkyDrive is at the moment engaged within the growth of a compact, two-seating electric-powered flying automotive with plans for full-scale manufacturing. The assertion didn’t say whether or not Suzuki could be engaged on this particular automobile.

The firm, which can also be growing cargo drones, goals to launch a ‘flying automotive’ service in Osaka in 2025 when the Japanese metropolis hosts the World Expo.

For Suzuki, the partnership will add ‘flying automobiles’ as a fourth mobility enterprise, as well as to cars, bikes and outboard motors, the assertion mentioned.

($1 = 120.4500 yen)

(Reporting by Satoshi Sugiyama; Editing by Kenneth Maxwell)



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