The major European automaker explained on Tuesday that Volkswagen is conducting a feasibility study in China regarding flying cars, to join a growing number of companies looking into potential technology.
“Besides autonomous driving, the concept of vertical mobility could be the next step for taking our mobility approach in the future, especially in the Chinese market from a technical point of view,” the German group said in a statement.
“So we are studying the concepts and potential partners in a feasibility study to determine the feasibility of manufacturing this approach,” she added.
And in Interview With Volkswagen CEO Herbert Diess via LinkedIn, Stephan Woellenstein, president of the Chinese automaker, said the company wanted to develop a drone that could be licensed, giving it a way to participate in this future market.
China is the largest market for cars in the world and also accounts for the bulk of Volkswagen’s sales, as it is the market leader there.
Deiss added: We should not be content with our laurels, and we should make better use of high speed, ambition and, above all, the great innovation power from China for Volkswagen.
The news comes as companies from startups to other global automakers race to develop commercial automated taxis, hoping to make money from a market that investment banking firm Morgan Stanley says could reach $ 1.5 trillion by 2040.
In addition to big players such as Volkswagen and Airbus, groups including America’s Joby, Germany’s Lilium and Germany’s Volocopter, whose financial backers include Daimler and Intel, are pursuing such plans.
Lilium said in November that it was setting up its first center in the United States near Orlando, placing more than 20 million people living in Florida within the range of its electric winged plane that can take off vertically and cover 300 kilometers.