SK Telecom and Joby Aviation, a Californian venture-backed aerospace company, have revealed their partnership deal this week, and they are joining forces to develop flying cars. The latter is an air taxi startup firm, and along with SKT, they are aiming to expand their footing in urban air mobility services or UAM.
According to Yonhap News Agency, SK Telecom, the leading wireless service provider in South Korea, said it has signed an agreement with Joby Aviation so they can form a regular consultative team that will help them bolster cooperation in bringing air taxis to the country.
Another one of the goals for this new partnership is to create "Mobility as a Service" (MaaS) in S. Korea. This type of service will offer various things to customers, including connecting cars, connecting car platforms, and other business-to-customer services. It was added that the deal is also expected to scale up S. Korea's long-term plan to commercialize UAM services by 2025 and help reduce urban traffic congestion.
"By joining forces with Joby, a global leader in this field, we expect to accelerate our journey towards the era of Urban Air Mobility and lead the way on introducing this exciting new technology," SK Telecom's chief executive officer, Ryu Young Sang, said in a press release. "Collaborating with leading global companies is essential to securing leadership in future industries, which we are confident will be driven by the growth of UAM, autonomous driving, and robots."
Pulse News reported that SK Telecom is planning to make use of Joby Aviation's knowledge and know-how in air flight testing since it will be able to experience this with NASA at the Korean UAM Grand Challenge that will take place next year. The event is set to be hosted by the country's Ministry of Land, Infrastructure, and Transport or MOLIT.
JoeBen Bevirt, the founder and CEO of Joby, also commented on its partnership with SK Telecom. He said, "We are thrilled to be partnering with the team at SKT who brings a wealth of relevant experience and technology to the table. With more than 42 million people living in urban areas, South Korea offers a remarkable opportunity for Joby to make air travel a part of daily life, helping people to save time while reducing their carbon footprint."


Germany Producer Prices Rise 1.8% in June, Missing Forecasts
Foxconn Wins First SpaceX AI Server Contract Worth Estimated $52 Billion
Oil Prices Extend Four-Day Rally as U.S.-Iran Conflict and Red Sea Threats Raise Supply Fears
Alaska Air Q3 Outlook Misses Estimates as Higher Fuel Costs Weigh on Profit Forecast
SpaceX Q2 Earnings on Aug. 4 Set Stage for Historic Insider Share Unlock
Nvidia Reveals 9.3% Stake in AI Cloud Firm Nebius Following $2 Billion Investment
ASML Trillion-Dollar Valuation: Can Europe’s AI Chip Giant Reach the Historic Milestone?
Gold Climbs Above $4,000 as Middle East Tensions and Fed Outlook Drive Safe-Haven Demand
Trump Set to Unveil New Tariffs on Dozens of Countries as Global 10% Duty Nears Expiration
Asian Stocks Rise as Oil Retreats on Iran Ceasefire Hopes Ahead of Key AI Earnings
Saudi Oil Tankers Reverse Course as Houthi Threats Disrupt Red Sea Shipping
US Dollar Holds Near One-Week High as Middle East Tensions and Oil Prices Drive Market Sentiment
Samsung Electronics America to Cut 739 New Jersey Jobs as Texas Headquarters Move Advances
Asian Currencies Hold Steady as Fed Outlook Offsets Middle East Tensions
Oil Prices Hold Steady as U.S.-Iran Conflict and Houthi Blockade Keep Markets on Edge
KPMG Australia Appoints John Sams as CEO Following Audit Leak Scandal 



