The subject of flying cars draws all the attention the world over. And why not? Experts believe that in China alone, the low-altitude economy (below 1,000m) will touch a trillion dollars in value by the decade’s end. Small wonder, then, that one of the oldest state-owned manufacturing companies in China’s Chongqing, Changan Automobile, has partnered with Guangzhou-based EHang, a prominent name in the Urban Air Mobility spectrum.
The idea is simple: invest to create flying car-related products. The scope comprises flying cars (obviously!) and electric vertical takeoff and landing (eVTOL) aircraft. Zhu Huarong, Chairman of Changan Automobile, says:
In the next five years, Changan will invest over AED 10.07 billion to expedite the development of flying cars. Over the next decade, we plan to invest more than AED 50.33 billion to explore comprehensive transportation solutions across land, sea, air and humanoid robots.
Changan aims to transform into an “intelligent low-carbon mobility technology company”, gradually. The signing ceremony between the two firms was during the inauguration of Changan’s Global Science and Art Centre, part of the company’s global R&D centre in Chongqing. Over the next decade, the company will invest more than AED 15.10 billion to hire over 3,000 experts in AI (Artificial Intelligence), IT (Information Technology), Design and Customer Experience.
