Heavy investment

South Korean carmaker Hyundai is also investing heavily in the emerging industry. In November last year, it launched Supernal, a subsidiary focusing on the so-called advanced air mobility market.

Supernal said it plans to operate its first commercial flight in 2028 and scale its operations as the market and public acceptance for such vehicles begin to grow in the 2030s.

Its first aerial vehicle will be electric-powered, with an autonomous capability, and is planned to accommodate four to five passengers initially on routes in urban and suburban areas.

Ben Diachun, Hyundai's chief technology officer, said, "We're developing a commercially viable advanced air mobility product from the start, designing and manufacturing our vehicle to the highest safety, noise, efficiency, and affordability standards."