UK-based Urban-Air Port (UAP) has secured investment from Supernal, a subsidiary of Hyundai Motor Group that is currently developing an eVTOL vehicle for 2028 entry-into-service, the company has announced.
The funding will support UAP’s target to open the world’s first airport designed to serve urban air taxis and eVTOL aircraft alongside the development of 200 vertiport sites around the world during the next five years.
The British ground infrastructure developer revealed that the recent investment will be used for the development and integration of Advanced Air Mobility (AAM) systems into existing transportation networks.
In a statement issued by UAP on January 19, 2022, the company outlined that it aims to open the Air-One, the world’s first fully operational airport for eVTOLs, in Coventry, UK in April 2022.
Source: Urban-Air Port
“The world’s first fully operational hub for eVTOLs, Air-One, will open for public visitation in Coventry City Centre in April. The demonstration will show how AAM can help unlock the potential of sustainable mobility and how the industry will work to help reduce congestion, cut air pollution and decarbonize transport,” the UAP statement reads.
Ricky Sandhu, UAP founder and chief executive officer, said: “Cars need roads. Trains need rails. Planes need airports. eVTOLs need Urban-Air Ports. Despite the unparalleled potential of eVTOL aircraft to revolutionize mobility, the importance of the ground infrastructure that enables them is too often overlooked.”
Source: Urban-Air Port
“With Supernal’s investment and expertise and connection to Hyundai Motor Group, we can supercharge the rollout of sustainable, intermodal, and scalable ground infrastructure that will unleash the future of advanced air mobility globally,” he continued.
UAP believes that the development of innovative ground infrastructure will play a key role in the future expansion of eVTOL aircraft, including cargo drones and air taxis, in the global market.
According to UAP’s predictions, the urban air mobility market should grow by 9% annually, reaching US$12.7 billion by 2027 and up to US$1 trillion in the next 20 years.