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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)
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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.

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Samsung Invests $1.8 Billion More in Vietnam for OLED Manufacturing Plant 

Security guards stand outside a Samsung facility during a strike by the factory workers demanding higher wages in Sriperumbudur, near the city of Chennai, India, September 16, 2024. (Reuters)
Security guards stand outside a Samsung facility during a strike by the factory workers demanding higher wages in Sriperumbudur, near the city of Chennai, India, September 16, 2024. (Reuters)
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Samsung Invests $1.8 Billion More in Vietnam for OLED Manufacturing Plant 

Security guards stand outside a Samsung facility during a strike by the factory workers demanding higher wages in Sriperumbudur, near the city of Chennai, India, September 16, 2024. (Reuters)
Security guards stand outside a Samsung facility during a strike by the factory workers demanding higher wages in Sriperumbudur, near the city of Chennai, India, September 16, 2024. (Reuters)

South Korean electronic manufacturer Samsung Display Co plans to invest $1.8 billion for a factory this year in northern Vietnam to produce OLED displays for automobiles and technology equipment, the Southeast Asian country said on Sunday.

The new facility for the manufacture of organic light-emitting diode (OLED) displays will be located in Yen Phong industrial park in Bac Ninh province east of Hanoi and close to an existing Samsung electronics plant, the government said in a statement released after the meeting between Prime Minister Pham Minh Chinh and the General Director of Samsung Vietnam Choi Joo Ho.

Bac Ninh authorities and Samsung Display on Sunday also signed a memorandum of understanding of the project, local media reported, adding the investment would raise Samsung's total investment in Bac Ninh to $8.3 billion from the current $6.5 billion.

Vietnam has over the last decade emerged as one of the most attractive production hubs for electronics companies.

According to Choi, Samsung has established six manufacturing plants, one research and development center, and one sales entity in Vietnam, with a cumulative investment of $22.4 billion.