German sports car manufacturer Porsche and Boeing have partnered to explore the development of premium personal urban air mobility vehicles.

The companies have signed a memorandum of understanding (MoU) to jointly study the product development for the market.

The partnership will take full advantage of the parties’ market strengths and insights for the effort.

Porsche sales and marketing executive board member Detlev von Platen said: “Porsche is looking to enhance its scope as a sports car manufacturer by becoming a leading brand for premium mobility. In the longer term, this could mean moving into the third dimension of travel.

“We are combining the strengths of two leading global companies to address a potential key market segment of the future.”

The partnership will form an international team to analyse the market potential of premium vehicles in the urban air mobility market. It will also prepare usage scenarios for the development process.

Porsche, Boeing and its subsidiary Aurora Flight Sciences will focus on concept development for a fully electric vertical take-off and landing vehicle.

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A prototype of the vehicle will be tested by engineers from both companies and Porsche Engineering Services and Studio F.A. Porsche.

Boeing NeXt general manager and vice-president Steve Nordlund said: “This collaboration builds on our efforts to develop a safe and efficient new mobility ecosystem, and provides an opportunity to investigate the development of a premium urban air mobility vehicle with a leading automotive brand.

“Porsche and Boeing together bring precision engineering, style and innovation to accelerate urban air mobility worldwide.”

A research conducted by Porsche Consulting last year has revealed that the growth of urban air mobility market will accelerate after 2025.