Seoul: Hyundai Motor Group announced on Sunday its collaboration with Korea Aerospace Industries (KAI) to develop advanced air mobility (AAM) aircraft. The agreement was formalized through a memorandum of understanding (MOU) during a ceremony held in Seoul, attended by prominent figures such as Hyundai Motor Group Vice Chair Chang Jae-hoon and KAI CEO Kim Jong-chool.

According to Yonhap News Agency, the MOU outlines a strategic partnership between Hyundai and KAI focusing on the development and mass production of competitive AAM aircraft. This collaboration aims to leverage Hyundai's expertise in electrified aviation powertrains in conjunction with KAI's extensive aircraft development technologies.

Additionally, the agreement encompasses cooperation in the commercialization of electrified aviation powertrains, a project currently spearheaded by Hyundai Motor and Kia. The partnership is set to extend into broader areas including resource sharing, supply chain management, and certification processes. Hyundai expressed its commitment to advancing the mobility sector by introducing safe and innovative AAM solutions.