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Boeing and Porsche work together to develop flying electric car

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.

  An artist who reproduces a possible version of an electric airplane that Porsche and Boeing plan to work together to develop.
Porsche's parent company, Volkswagen A, ( VLKAF ) is the world's largest car manufacturer. It has made a big impression in the development of electric vehicles and set a goal to build 22 million electric cars over its brands over the next ten years.

"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. "

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Boeing's revenues topped $ 100 billion for the first time in 2018, although sales will be significantly lower this year because of the basis of its best-selling commercial jet, 737 Max, after two fatalities that killed 346 people. It has already shown a prototype of a self-driving electric-powered airplane earlier this year.
Boeing ( BA ) combines precision technology, style and innovation n to accelerate urban mobility around the world, "said Steve Nordlund, head of Boeing NeXt, a unit of the company that works with next-generation vehicles and aircraft.

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