In a joint statement, the two companies said they would also work to open new markets with an initial focus on India, where Suzuki’s subsidiary Maruti Suzuki accounts for nearly half of the auto market.
Japanese automaker Suzuki Motor Corp and flying car firm Skydrive Inc on Tuesday said they have signed an agreement to form a team to research, develop and market electric, vertical takeoff and landing aircraft. In a joint statement, the two companies said they would also work to open new markets with an initial focus on India, where Suzuki accounts for nearly half of the auto market. Suzuki announced on Sunday that it plans to invest 104.4 billion rupees ($1.37 billion) in its Indian factory to produce electric vehicles and batteries. The companies did not disclose details of investments in their partnerships nor outlined any production timetables or targets.
Tokyo-headquartered Skydrive, founded in 2018, counts Japan’s large businesses such as trading house Itochu Corp, a unit of tech firm NEC Corp and energy company Enos Holdings Inc. among its main shareholders. raised funds totaling 5.1 billion yen ($42 million). Skydrive is currently engaged in the development of a full-scale compact, two-seating electric-powered flying car. However, the statement did not say whether Suzuki would work on this specific vehicle or not.