Hyundai is launching a new Urban Air Mobility Division to develop products for the aviation industry. Executive Vice President and Head of this new venture is Dr. Jaiwon Shin, a renowned aeronautics engineer.
- The Urban Air Mobility Division will look toward developing future products.
- Aviation could help solve the problem of increasing traffic congestion in cities.
- Shin has years of experience developing innovative aviation solutions.
Dr. Shin comes to the project with an impressive resume. Prior to accepting his new position with Hyundai, he spent 30 years in research and development with NASA. There he led a $725 million program that developed advanced technologies including a supersonic X-plane, aircraft electrification, traffic management, and urban air mobility.
Air mobility could provide traffic congestion solutions for future generations. (Photo: Getty Images)
While this new direction may seem like a bit of a departure for a car company, those in Korea know Hyundai as more of a conglomerate involved in multiple industries. Since it isn’t solely a car company, exploring possibilities beyond the traditional automotive space is no surprise.
Urban air mobility holds the promise of reducing traffic congestion on the ground in the future. This new industry is expected to become a $1.5 trillion sector within the next 20 years. Investing in it now ensures Hyundai is ready for a future that focuses on new opportunities within the aviation industry rather than limiting itself to only ground transportation options.
WHY THIS MATTERS
There’s no denying traffic congestion is a growing problem. Recent developments, like the popularity of ride-sharing, are only making that congestion worse. Taking some of that traffic from the road to the sky could alleviate the problem. It’s not quite flying cars, but anything is possible.