GM would enter the electric flying car market

General Motors is starting to explore the market for flying taxis, which would generally open the way to flying cars. However, the move is not surprising, as the U.S. automotive giant has been looking for new opportunities for some time.

An important announcement came from General Motors earlier this week when the head of Detroit company Mary Barra first indicated that GM wanted to open up to the air taxi market. However, the move is not a huge surprise, as the company itself said the opening fits in with plans for electric vehicles as well as the Ultium battery project.

BARRA EMPHASIZED THAT GM STRONGLY BELIEVES IN THE FUTURE OF ELECTRIC CARS AND THE STRENGTH AND FLEXIBILITY OF THE ULTIUM SYSTEM MAKES IT POSSIBLE TO OPEN TOWARDS AIR MOBILITY.

Vertically take-off and take-off air taxis use electric motors instead of classic engines.

Although air taxi transport is still in its infancy, a significant number of analysts say there is great potential in the sector. Not surprisingly, GM’s stock rose 5.4 percent after the announcement. However, investors tend to try to seize opportunities in the sector early. This is because corporate and private investors have so far invested at least $ 2.3 billion in 100 aviation startups.

The area is particularly exciting anyway, but the developments are quite time consuming. Amazon and Walmart, for example, are already dealing with freight drones, but transporting people on flying cars is much more difficult, especially as a sustainable business model.

BUT IN ADDITION TO GM, BIG AUTOMOTIVE COMPANIES ARE ALREADY TRYING TO HAVE THE OPPORTUNITY. HYUNDAI, FOR EXAMPLE, HAS COMBINED WITH UBER IN JANUARY TO DEVELOP ELECTRIC TAXI AND DEDUCT $ 20 BILLION IN INVESTMENTS BY 2025.

Toyota, meanwhile, is a leading investor in a startup called air taxi developer Joby, while Daimler has set itself behind Stuttgart-based Volocopter as an investor. And Porsche is working with Boeing on this as well.