SOUTH KOREA -ALSHARQIYA June 15: Hyundai Motor and General Motors said they are pressing ahead with the development of flying cars, and the South Korean company expressed optimism that it may have a "flying taxi" service in operation perhaps as early as 2025.
A General Motors executive said it could take until 2030 for flying taxi services to overcome technical and regulatory hurdles and reach commercial operation.
Flying taxis take off and land like helicopters, carrying passengers and goods.
Other automakers are developing flying cars either on their own or in partnerships, including Toyota Motor, Daimler and China's Geely.
Morgan Stanley estimated that the total size of the urban flying taxi market could reach $1 trillion by 2040 and $9 trillion by 2050.