The US aircraft giant and German sports car maker announced Thursday they are teaming up to “explore the premium urban air mobility market and the extension of urban traffic into airspace,” through “a fully electric vertical takeoff and landing vehicle.”
Translation: They want to develop an electric vehicle that can fly.
The announcement did not include any details about the amount of money or other resources the two companies plan to invest in the effort, or a target date or price range.
“We are combining the strengths of two leading global companies to address a potential key market segment of the future,” says Detlev von Platen, a member of the Porsche board in charge of sales and marketing. “In the longer term, this could mean moving into the third dimension of travel.”