عربي English Türkçe اردو فارسى
Logo
Latest News
Technology

Japan’s Suzuki to Make ‘Flying Cars’ with SkyDrive

The logo of Suzuki Motor Corp. is pictured at the 45th Tokyo Motor Show in Tokyo, Japan October 25, 2017. (Reuters)
The logo of Suzuki Motor Corp. is pictured at the 45th Tokyo Motor Show in Tokyo, Japan October 25, 2017. (Reuters)
TT
20
TT

Japan’s Suzuki to Make ‘Flying Cars’ with SkyDrive

The logo of Suzuki Motor Corp. is pictured at the 45th Tokyo Motor Show in Tokyo, Japan October 25, 2017. (Reuters)
The logo of Suzuki Motor Corp. is pictured at the 45th Tokyo Motor Show in Tokyo, Japan October 25, 2017. (Reuters)

Japanese automaker Suzuki Motor Corp said on Tuesday it had reached an agreement with SkyDrive Inc to make "flying cars".

The companies will use a Suzuki Group factory in central Japan to make electric vertical take-off and landing (eVTOL) aircraft and aim to begin production by around spring next year, Suzuki said in a statement.

SkyDrive will establish a wholly owned subsidiary to make the aircraft and Suzuki will help with preparations for the manufacturing, including securing talent, the automaker said.

Headquartered in the city of Toyota in central Japan, SkyDrive has trading house Itochu Corp, tech firm NEC Corp and a unit of energy company Eneos Holdings Inc among its main shareholders.

The two companies signed a deal in March last year to team up in research, development and marketing of flying cars.

Most Viewed

 
Technology

Nvidia Insiders Sold over $1 billion in Stock amid Market Surge, FT Reports

A smartphone with a displayed NVIDIA logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration
A smartphone with a displayed NVIDIA logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration
TT
20
TT

Nvidia Insiders Sold over $1 billion in Stock amid Market Surge, FT Reports

A smartphone with a displayed NVIDIA logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration
A smartphone with a displayed NVIDIA logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration

Nvidia insiders sold over $1 billion worth of company stock in the past year, with a notable uptick in recent trading activity as executives capitalize on surging investor interest in artificial intelligence, the Financial Times reported on Sunday.

More than $500 million of the share sales took place this month as the California-based chip designer's share price climbed to an all-time high, the report said, according to Reuters.

Jensen Huang, Nvidia's chief executive, started selling shares this week for the first time since September, the SEC filing showed.

Nvidia's stock hit a record on Wednesday, and the chipmaker reclaimed the crown as the world's most valuable company after an analyst said the chipmaker was set to ride a "Golden Wave" of artificial intelligence.

Its latest gains reflect the US stock market's return to the "AI trade" that fueled massive gains in chip stocks and related technology companies in recent years on optimism about the emerging technology.

Nvidia declined to comment on the FT report.

Reuters could not immediately confirm the report.

Nvidia's shares have rebounded over 60% from their closing low on April 4, when Wall Street was reeling from President Donald Trump's global tariff announcements. US stocks, including Nvidia, have recovered on expectations the White House will reach trade deals to soften the tariffs.