Suzuki, SkyDrive to Collaborate on electric “flying cars”; Production rollout expected in 2024

New Delhi (India), 20th June 2023: On Tuesday, Japanese automaker Suzuki Motor announced that it has secured a deal to produce “flying cars” with SkyDrive.

Electric vertical take-off and landing (eVTOL) aircraft will be manufactured by the businesses at a Suzuki Group facility in central Japan; manufacturing is expected to start by the spring of 2019.

According to the automaker, SkyDrive will set up a fully-owned subsidiary to manufacture the aircraft, while Suzuki will assist with setting up the factory, including acquiring talent.

The principal shareholders of SkyDrive, which has its headquarters in the central Japanese city of Tokyo, include the trade house Itochu, the technology giant NEC Corp., and a division of the energy corporation Eneos Holdings.

According to its website, it raised CNY 5.1 billion (approximately 320 crore) in Series B funding in 2020.

In March of last year, the two businesses agreed to collaborate on the study, creation, and marketing of flying automobiles. Then, they continued, they will aim to expand into other areas, initially concentrating on India, where Suzuki now holds about a half share of the auto market.

The production of electric vehicles and batteries at Suzuki’s India factory will be supported by an investment of Rs. 10,420 crore, the company said.

The businesses didn’t specify a production schedule or goal, nor did they disclose the financial terms of their agreement.