The pair have signed a new memorandum of understanding to work together on the project and will "explore the premium urban air mobility market and the extension of urban traffic into airspace." .
Boeing and Porsche announced are teaming up to develop a flying vehicle. This includes a team-up of Boeing, Porsche, and Aurora Flight Sciences. Sort of like Back to the Future 2, or The Fifth Element, or Blade Runner - or any number of other sci-fi stories - this partnership is about the "Premium Urban Air Mobility Market".
A 2018 study by Porsche Consulting forecast that the urban air mobility market will gain traction after 2025.
"In the longer term, this could mean moving into the third dimension of travel".
It seems clear that Porsche and Boeing are exploring the mobility market from a private-ownership perspective, or, at the very least, exclusivity.
Over half a dozen companies big and small are working on flying vehicle prototypes, among them Airbus, Uber, AeroMobil, Zee.Aero, Terrafugia, EHang, Joby Aviation and Russia's Siberian Aeronautical Research Institute.
Porsche is dipping a toe into air travel.
You might be wondering why Porsche is expanding outside of its realm of performance cars.
The German auto company said the airline manufacturer and its subsidiary Aurora Flight Sciences will develop a prototype flying for the vehicle. Porsche will play an important role in the model's development as both Porsche Engineering Services GmbH and Studio F.A. Porsche will be involved as well as engineers from Boeing.
Translation: They want to develop an electric vehicle that can fly.