The American aviation giant and German sports car manufacturer announced on Thursday that they are collaborating to "explore the major market for urban mobility and the expansion of city traffic into airspace" through "a fully electric vertical take-off and landing vehicle."
Translation: They want to develop an electric vehicle that can fly.
The announcement contained no details on how much money or other resources the two companies are planning to invest in the effort, or a target date or price range.
"We combine the strengths of two leading global companies to manage a potential key market segment of the future," said Detlev von Platen, member of the Porsche Board responsible for sales and marketing. "In the longer term, this could mean moving into the third dimension of the trip. "