TOKYO, March 22 (Reuters) – Japanese automaker Suzuki Motor Corp (7269.T) and ‘flying automobile’ agency SkyDrive Inc mentioned on Tuesday they’ve signed a deal to group up in analysis, growth and advertising and marketing of electrical, vertical takeoff and touchdown plane.
In a joint assertion, the 2 firms mentioned they may even work to open up new markets with an preliminary deal with India, the place Suzuki has a roughly half share of the auto market. Suzuki introduced on Sunday it plans to take a position 104.4 billion rupees ($1.37 billion) in its India manufacturing unit to supply electrical automobiles and batteries. read more
The businesses did not disclose particulars of investments of their partnership, nor define any manufacturing timetable or goal.
Based in 2018, Tokyo-headquartered SkyDrive counts huge Japan companies like buying and selling home Itochu Corp (8001.T), tech agency NEC Corp (6701.T) and a unit of vitality firm Eneos Holdings Inc (5020.T) amongst its essential shareholders. In 2020 it raised 5.1 billion yen ($42 million) in whole in Collection B funds, based on its web site.
SkyDrive is at the moment engaged within the growth of a compact, two-seating electric-powered flying automobile with plans for full-scale manufacturing. The assertion didn’t say whether or not Suzuki can be engaged on this particular car.
The corporate, which can also be creating cargo drones, goals to launch a ‘flying automobile’ service in Osaka in 2025 when the Japanese metropolis hosts the World Expo.
For Suzuki, the partnership will add ‘flying automobiles’ as a fourth mobility enterprise, along with vehicles, bikes and outboard motors, the assertion mentioned.
($1 = 120.4500 yen)
Reporting by Satoshi Sugiyama; Enhancing by Kenneth Maxwell
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