Flying Cars Are What Uber’s New Joint Venture Is Dreaming About

Ride-hailing company Uber Technologies and the mobility division of South Korean wireless carrier SK Telecom announced a new joint venture whose purpose is to launch a new taxi service, but also to invest in new technologies that would eventually allow the creation of flying cars.
Flying cars aren't just yet 1 photo
Photo: on Twitter
As innovative as that sounds, Uber and SKT believe that by building new navigation systems and smart traffic control systems, they could at one point pave the way for flying cars. And while an ETA for this highly ambitious project hasn’t been offered, it’s very clear that the joint venture is planning in the long term here, so you’d better not hold your breath for a flying car just yet.

In the meantime, Uber and its South Korean partner would focus their efforts on a new taxi-hailing service whose purpose is to provide more advanced capabilities thanks to a mix of the tech, resources, and know-how coming from both partners.

For example, Uber will contribute with traffic tech and the system that already made it famous all over the world, while SKT will offer map data, navigation tech, and taxi services, according to local reports.

Uber will invest approximately $50 million in the new joint venture, and SKT says that it also plans to launch another similar effort with the American firm in 2021. This time, Uber will participate with $100 million and will take control of 51 percent of the joint venture, the South Korean carrier said.

As many industry watchers know already, the concept of flying cars isn’t necessarily new, as companies like Toyota and Hyundai have already invested heavily in the creation of such vehicles. However, we’re still far from the moment a flying car would finally receive the go-ahead for mass production, and a recent report provides us with a closer look at the reason for the slow progress that’s being made in this regard.

In the meantime, Uber and its South Korean partner bet big on this joint venture, despite building a flying car obviously a long-term project that we might not live to see happening.
If you liked the article, please follow us:  Google News icon Google News Youtube Instagram X (Twitter)
About the author: Bogdan Popa
Bogdan Popa profile photo

Bogdan keeps an eye on how technology is taking over the car world. His long-term goals are buying an 18-wheeler because he needs more space for his kid’s toys, and convincing Google and Apple that Android Auto and CarPlay deserve at least as much attention as their phones.
Full profile


Would you like AUTOEVOLUTION to send you notifications?

You will only receive our top stories