By Niraj Chokshi Businesses and entrepreneurs have been promising a mass-produced flying car for more than a century. None have succeeded, but that hasn’t stopped Hyundai and Uber from wanting in on the action. In Las Vegas on Monday, at the Consumer Electronics Show, the two companies announced that they were joining forces to develop an all-electric air taxi that would be part of a future “aerial ride-share network.” The South Korean automaker showed a small-scale model Monday and offered a virtual-reality experience. A non-functioning full-scale model was later on display. “We’re looking at the dawn of a completely new era that opens the skies above our cities,” Jaiwon Shin, the head of Hyundai’s Urban Air Mobility division, said at the announcement. “We will be able to fly on demand — just imagine that.” The public has long been disappointed by promises of flying cars, but hopes have nevertheless been mounting that an aerial taxi could become a reality. Analysts with Morgan Stanley have said that they expect urban air taxis to be common by 2040, with the global market expected to be between $1.4 trillion to $2.9 trillion in size by then. At least 20 companies are working to… Read full this story
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