Hyundai Motor Group and Korea Aerospace Industries (KAI) (047810.KS) will jointly develop an advanced air mobility (AAM) aircraft.
Hyundai Motor Group announced Friday that it signed a memorandum of understanding (MOU) with KAI on Wednesday for the joint development of an advanced air mobility aircraft based on electric aviation powertrains. The signing ceremony was held at the headquarters of Hyundai Motor (005380.KS) and Kia (000270.KS) in Seocho-gu, Seoul. Hyundai Motor Group Vice Chairman Jaehoon Chang, KAI President Kim Jong-chul and other key officials from both companies attended the event.
The MOU aims to develop and mass-produce competitive advanced air mobility by combining Hyundai Motor Group's electric aviation powertrain development capabilities with KAI's aircraft development expertise. The two companies agreed to share technical and human resources, while cooperating comprehensively on supply chains, certification and customer networks going forward.
Supernal, Hyundai Motor Group's U.S.-based advanced air mobility subsidiary, and KAI will jointly develop a vertical takeoff and landing AAM aircraft and commercialize the electric aviation powertrain being developed by the aviation powertrain business division of Hyundai Motor and Kia. The two companies also plan to expand cooperation by identifying new collaboration areas across the aviation industry.
"The partnership with KAI, which leads Korea's aerospace industry, is the greatest driving force in our development of advanced air mobility," a Hyundai Motor Group official said. "We will expand the horizon of mobility to the skies by presenting safe and attractive advanced air mobility."
"Combining KAI's integrated systems capabilities in fixed-wing and rotary-wing aircraft with Hyundai Motor Group's mass-production system and mobility ecosystem will enable us to develop a K-AAM that leads the global market," a KAI official said. "The cooperation between the two companies will serve as a catalyst for becoming a game changer in the global commercial mobility market and an important driving force in propelling Korea into an aviation powerhouse."
Earlier, Supernal appointed Farhan Gandhi, a chaired professor of aerospace engineering at North Carolina State University and a leading authority on vertical takeoff and landing aerodynamics, as its new chief technology officer (CTO) on Monday local time. Gandhi, who has been engaged in rotary-wing aircraft research for more than 30 years, is expected to play a pivotal role in Supernal's technological advancement. The appointment marks the first major executive move since former CEO Jaiwon Shin and former CTO David McBride resigned together last September, and the AAM business, which had been stalled, is now expected to regain momentum.
Since its establishment in 1999, KAI has focused on developing military aircraft such as the KT-1 basic trainer and Songgolmae unmanned aerial vehicle, and has recently expanded into commercial advanced air mobility, playing a pivotal role in Korea's aviation industry.
