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Hyundai Mtr Co (OTCMKTS:HYMTF) To Build Air Taxis For Uber Technologies Inc (NYSE:UBER): Uber To Demonstrate Elevate In 2020

Hyundai Mtr Co (OTCMKTS:HYMTF) has joined hands with Uber Technologies Inc (NYSE:UBER) to make air taxis a reality. As per the terms of the accord, Hyundai will build air taxis for Uber that could run at a cruise speed of 180 miles per hour and cover a distance of 60 miles.

S-A1 will debut at the consumer electronics show

The S-A1, the full-scale mock-up, will debut this week at the consumer electronics show in Las Vegas. An all-electric air taxi can carry four persons and have vertical landing and takeoff capability.

Though Uber has signed up with other partners like Aurora, a subsidiary of Boeing, Bell, and Embraer, Hyundai is experienced in manufacturing passenger vehicles on a global scale. Head (Uber Elevate), Eric Allison, said Hyundai is capable of building Air vehicles at affordable rates. Hyundai can produce reliable and high-quality aircraft in high volumes and reduce the per-trip cost to the passengers.

Reduce traffic congestion

The Uber Air taxis will reduce traffic congestion by linking urban centers with the suburban centers. They will cruise at the height of up to 2,000 ft. The company expects to cover the distance of 50 miles between downtown San Jose and the Marina district, which is close to the headquarters of Uber in San Francisco, in just 15 minutes. It takes over 2 hours if you travel by car on the road.

Commercial operations in 2023

Uber plans for the commercial launch of Elevate in 2023. It will operate air taxis initially in Los Angeles, Dallas, and Melbourne, Australia. The Uber Elevate, which save passenger’s valuable time, initially flies with a pilot. Later, it would be fully automatic.

Head (Urban Mobility Division) and Executive Vice President of Hyundai, Jaiwon Shin, said Urban Air Mobility concept would transform the lives of people in cities and provides them quality time.

Hyundai plans a hub

Hyundai plans to introduce hubs, a downsized air taxi terminal, to shuttle the passengers between the Uber Elevate bases and the hub. In this partnership, Hyundai will provide ground support, whereas Uber offers Air Support services for the passengers. It is a great help for passengers in urban areas.

Published by Chris Brown

About Me: I have a Phd in Economics Gender: Male Interests: Playing games like cricket, volleyball Favorite Music: hip hop, rock, jazz

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