Tokyo (Reuters)- Flying car firm SkyDrive Inc and Japanese automaker Suzuki Motor Corp announced on Tuesday that they had signed a deal to collaborate on the development, marketing, and research of electric, vertical takeoff and landing aircraft.
It was announced in a joint statement by the two companies, Suzuki and Honda, that they will also work to open up new markets in India, where Suzuki has a roughly half share of the auto market. During a press conference on Sunday, Suzuki said it would invest $1.37 billion in a new electric vehicle and battery factory in India.
In their joint venture, neither company provided any information about the investments they made nor did they specify a production schedule or goal.
SkyDrive, a Tokyo-based cloud storage service, was founded in 2018. Its major shareholders include Itochu Corp, NEC Corp, and a subsidiary of Eneos Holdings Inc. According to the company’s website, it expects to raise 5.1 billion yen ($42 million) in Series B funds by 2020.
A two-seater electric flying car is currently being developed by SkyDrive with a view to going into full-scale production in the future. In the statement, Suzuki did not say if they would be working on this particular vehicle or not.
If all goes according to plan, a “flying car” service will be available in Osaka by 2025 when the city hosts the World Expo, a company that is developing cargo drones.
According to a press release, the partnership will expand Suzuki’s mobility offerings to include “flying cars” in addition to cars, motorcycles, and outboard motors.