SkyDrive eyeing to break into the drone logistics market

Suzuki Motor Corp-backed Japanese cargo drone and flying car maker SkyDrive looking to break into the drone logistics market in India has started approaching potential customers in cooperation with its parent.

Sky Drive has already received orders for its cargo drones from Vietnam and expects bookings in the US market soon, chief strategy officer Hiroyuki Murai said at the ET Global Business Summit.

“We are collaborating with Suzuki, and we have just started sales process in India. We are approaching customers,” he said. The Japanese company has so far sold a few hundred of its drones in its home market.

The company is also working on an electric vertical take-off and landing (eVTOL) vehicle–a battery driven flying car–and has created a scale prototype, and is looking to have a full-scale working prototype by the end of this year.

Without disclosing the latest valuation at which the funds were raised, Murai said that SkyDrive so far has raised $120 million from investors including Suzuki Motor.

In 2025, the company is eyeing a launch of the flying car at the Osaka Expo. Murai said, there are several other companies looking to launch their products by 2025. He adds, air mobility revolution is already happening, and many institutions predict that this will turn into a huge industry.

Flying cars do not require a large maintenance costs and it also need less capital investment compared with existing air mobility solutions, he said adding that the vehicles can use existing road infrastructure, reducing the need for large-scale public investment.

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