Porsche and Boeing partner on electric flying vehicle

Porsche and U.S. planemaker Boeing are working to develop a concept electric flying vehicle capable of transporting people in urban settings.

Porsche and other automakers are aiming to build flying cars that can be used as taxis and for ride-sharing purposes.

“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,” said Porsche’s sales and marketing chief, Detlev von Platen.

As part of the deal, Boeing and Porsche will analyze the market potential for premium aerial vehicles and their possible use in highly populated cities, the companies said in a news release on Thursday.