Hyundai will join hands with airplane engine maker Rolls Royce to develop small aircraft capable of vertical take-off and landing.
Hyundai said chairman Chung Eui-sun signed a memorandum of understanding with Rolls Royce CEO Warren East at the Farnborough International Airshow in the U.K. on Monday.
The automaker is trying to commercialize an urban air mobility platform by 2028 and is taking part in the international air show for the first time. Rolls Royce has cutting-edge aerospace and defense technology and is considered as one of the world's top aircraft engine makers along with GE and Pratt & Whitney.
Hyundai and Rolls Royce want to develop a hydrogen-fueled and battery-powered propulsion systems for regional aircraft shuttling people between cities by 2025.
Hyundai has already forged cooperative ties with other companies including French rocket engine maker Safran and U.S. aircraft battery maker Electric Power System.
"Even five or six years ago, a combination of autos and aircraft was unimaginable," a Hyundai staffer said. "The partnership with Rolls Royce was possible because the air mobility blurs the boundaries of the two industries and Hyundai's potential in the hydrogen battery and air mobility business has been recognized."
