Hyundai Motor Co. plans to unveil unmanned cargo aircraft in 2026 as the South Korean automaker aims to enhance its foothold in the future mobility market.
Hyundai Motor, the country’s largest automaker, said on Nov. 8 that the project is part of the automotive group’s long-term goal to shift its business portfolio toward urban air mobility (UAM), one of its key growth engines.
Hyundai Motor Chairman Chung Euisun discusses the company's urban air mobility vision Hyundai will soon send out a request for information (RFI) to companies interested in partnering with the automaker on the project. The company will receive applications by Nov. 22 and then share further information with them by hosting a business presentation.
“We plan to unveil details, including the technology to be used for the aircraft, in the first half of next year,” said a Hyundai Motor official.
Unlike drones, Hyundai’s unmanned aircraft system (UAS) for cargo transport will have wings as it will be designed to carry heavier payloads for commercial use, with vertical take-off and landing capabilities in an urban environment.
“Through the development of a cargo UAS, we want to obtain the mass production knowhow of personal air vehicles (PAVs), which we aim to commercialize by 2028,” said another Hyundai Motor official.
Hyundai Motor's urban aircraft concept with vertical take-off and landing capabilities URBAN AIR MOBILITY INITIATIVE
Hyundai Motor’s new Chairman Chung Euisun, who took the group’s leadership last month, has emphasized that the automaker will shift its business portfolio breakdown so automobiles account for half of its sales, followed by UAM with 30% and robotics at 20%.
During the Consumer Electric Show in January, the group unveiled its urban air mobility initiative, as well as showcasing its S-A1 air vehicle concept equipped with an electric vertical take-off and landing, or eVTOL, system.
Hyundai plans to invest $1.5 billion in UAM over the next five years to cultivate new business opportunities in future mobility.
Hyundai Motor aims to cultivate urban air mobility as a new growth business Hyundai’s global rivals such as Toyota Motor Corp., GM, Daimler AG and China’s Geely Auto Group are also heavily investing in the urban air mobility sector.
According to US investment bank Morgan Stanley, the global UAM market is forecast to grow to $1.5 trillion by 2040.
Write to Byung-Uk Do at dodo@hankyung.com In-Soo Nam edited this article.
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