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Hyundai Says Flying-Taxi Efforts Likely Won’t Need External Funding

  • Korean carmaker is working with Supernal to develop eVTOLs
  • Test flights expected 2025, commercial approval in US by 2028
A model of a Supernal eVtol on display in Coventry, UK.
A model of a Supernal eVtol on display in Coventry, UK.Photographer: Chris J. Ratcliffe/Bloomberg
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Hyundai Motor Group doesn’t expect to need outside funding to develop the flying taxi it’s working on in conjunction with US affiliate Supernal but concedes the external investment community may not be able to properly assess its value unless the arm is spun off.

“I don’t think we have to seek external investment. That’s a comforting feeling,” Jaiwon Shin, president of Hyundai’s advanced air mobility division, said in an interview at the Farnborough International Airshow on Wednesday.