2024 Corporate Aviation Leadership Summit

Korean aircraft leasing group Solyu Company plans to acquire up to 50 of SkyDrive’s eVTOL vehicles to its portfolio. In a memorandum of understanding signed on September 15, Solyu agreed to provisional pre-orders for the three-seat SD-05 aircraft.
Seoul-based Solyu is preparing to provide equipment to support the anticipated demand for advanced air mobility services in South Korea, where the government has expressed support for the new mode of transportation as part of plans to reduce urban road congestion. The company also intends to include other electric airplanes, including new eSTOL models that only need short runways to operate, in its leasing portfolio. Earlier this month, Solyu signed a provisional agreement to buy 25 of Eviation’s Alice electric regional aircraft.
In June, Japan-based SkyDrive announced a <a href="Korean aircraft leasing group Solyu Company plans to acquire up to 50 of SkyDrive’s eVTOL vehicles to its portfolio. In a memorandum of understanding signed on September 15, Solyu agreed to provisional pre-orders for the three-seat SD-05 aircraft. Seoul-based Solyu is preparing to provide equipment to support anticipated demand for advanced air mobility services in South Korea, where the government has expressed support for the new mode of transportation as part of plans to reduce urban road congestion. The company also intends to include other electric airplanes, including new eSTOL models that only need short runways to operate, in its leasing portfolio. Earlier this month, Solyu signed a provisional agreemen to buy 25 of Eviation’s Alice electric regional aircraft. In June, Japan-based SkyDrive announced a redesign of its eVTOL design, to add an extra seat to accommodate a pilot plus two passengers. The company has begun a type certification process with the Japan Civil Aviation Bureau and aims to have the SD-05 certified and ready to enter commercial service in 2026. Recently, SkyDrive signed provisional sales agreements with Vietnamese technology group CT covering the purchase of 100 of the SD-05 model and with South Carolina-based operator Austin Aviation for 5 units. It also holds “pre-orders” for 10 more of the eVTOL vehicles from Vietnamese renewable energy company Pacific Group. “This is the first pre-order from a leasing company and we are very grateful to be able to proceed with the Solyu team with extensive experience in the aircraft leasing industry,” commented SkyDrive CEO Tomohiro Fukuzawa. “We look forward to working with Solyu to open up the Korean market and to contribute to the goal. Of reducing CO2 emisssions in the Korean aviation sector.”">redesign of its eVTOL design</a>, to add an extra seat to accommodate a pilot plus two passengers. The company has begun a type certification process with the Japan Civil Aviation Bureau and aims to have the SD-05 certified and ready to enter commercial service in 2026. The aircraft is intended purely for short journeys, with an anticipated range of just 15 km (9 miles).
Recently, SkyDrive signed <a href="https://www.futureflight.aero/news-article/2023-07-21/skydrive-reports-more-provisional-evtol-aircraft-sales-vietnam-and-south">provisional sales agreements </a>with Vietnamese technology group CT covering the purchase of 100 of the SD-05 model and with South Carolina-based operator Austin Aviation for 5 units. It also holds “pre-orders” for 10 more of the eVTOL vehicles from Vietnamese renewable energy company Pacific Group. The company has also secured some orders from clients in Japan.
“This is the first pre-order from a leasing company and we are very grateful to be able to proceed with the Solyu team with extensive experience in the aircraft leasing industry,” commented SkyDrive CEO Tomohiro Fukuzawa. “We look forward to working with Solyu to open up the Korean market and to contribute to the goal. Of reducing CO2 emissions in the Korean aviation sector.”

Managing Editor

Charles Alcock

Korean Leasing Group Plans to Add SkyDrive eVTOL Vehicle to Portfolio

SkyDrive is embarking on a joint research project with the Japan Aerospace Exploration Agency (JAXA) to study ways to estimate, evaluate, and reduce the noise produced by new eVTOL aircraft.&nbsp;
The Tokyo-based start-up, which is developing a three-seat eVTOL air taxi, has been using JAXA’s largest wind tunnel since 2021 <a href="https://www.futureflight.aero/news-article/2021-08-10/skydrive-evaluates-flying-car-rotors-wind-tunnel">to evaluate the aerodynamics</a> and performance of its designs—particularly the rotors. According to SkyDrive, it is the first eVTOL aircraft developer to conduct tests in JAXA’s wind tunnel facility, which has been used for the development of nearly every airplane, helicopter, and spacecraft produced in Japan.&nbsp;
Now, SkyDrive and JAXA have signed a joint research agreement focused specifically on noise reduction in eVTOL aircraft. While SkyDrive has been conducting its own research on noise reduction to make its aircraft as quiet as possible, JAXA has been developing a type of technology that it says can pinpoint the exact locations of noise sources and the amount of noise emitted from each source.&nbsp;
SkyDrive plans to use <a href="https://www.aero.jaxa.jp/eng/research/basic/aerodynamic/noise/">JAXA’s noise-analysis technology</a> to study the noise profile of its eVTOL rotors and find ways to make them quieter. Several factors of a rotor’s design can affect its noise profile, such as the diameter, blade count, and tip speed. As part of the research agreement, SkyDrive will also “promote research on the improvement of noise estimation technology for eVTOLs in cooperation with JAXA,” the company said in a statement.
“We will use the data acquired through the research by using JAXA’s existing noise source identification technology to take us through the major step to developing flying cars that the society needs,” said SkyDrive’s chief technology officer, Nobuo Kishi.
SkyDrive was launched in 2018 as part of Japan's Cartivator consortium to advance plans for a two-seat “flying car”—also known as a personal eVTOL aircraft—as well as a cargo-carrying variant. In June the company unveiled an <a href="https://futureflight.aero/news-article/2023-06-22/skydrive-build-three-seat-evtol-aircraft-suzuki-factory">updated aircraft design with three seats</a>, which will be intended for commercial air taxi operations. The piloted aircraft will have a range of about nine miles (15 kilometers) and is intended for short&nbsp;trips across urban areas.&nbsp;
The company aims to gain airworthiness certification for the three-seat model in time to fly it at the Osaka World Expo in 2025. It expects to achieve type certification and enter service in 2026, with commercial air taxi operations launching in Japan and <a href="https://futureflight.aero/news-article/2023-01-26/japans-skydrive-focuses-south-carolina-us-evtol-services">South Carolina</a>.

Science & Technology Editor

Hanneke Weitering

SkyDrive and JAXA Partner on eVTOL Noise Research

Vietnamese technology group CT plans to buy 100 of SkyDrive’s SD-05 three-seat eVTOL aircraft under the terms of a preorder memorandum of understanding signed with the Japanese manufacturer on July 21. The&nbsp;Ho Chi Minh City-based group’s CT UAV division, which is developing its uncrewed air vehicles (UAV) business, will acquire the all-electric vehicles.
The deal was announced a day after U.S. Part 135 charter operator Austin Aviation signed a letter of intent covering provisional preorders for five of the aircraft, which is expected to enter service in 2026. The company intends to offer air taxi services in South Carolina.
SkyDrive unveiled the <a href="https://www.futureflight.aero/news-article/2023-06-22/skydrive-build-electric-air-taxis-suzuki-factory">three-seat&nbsp;eVTOL air taxi</a>&nbsp;at the Paris Air Show in June as a larger version of the original two-seat model, with the original SD-05 designation to be retained. The&nbsp;<a href="https://www.futureflight.aero/news-article/2023-06-22/skydrive-build-electric-air-taxis-suzuki-factory">vehicle</a>&nbsp;will have a range of just nine miles and is intended for short hops, such as trips to and from airports.
In November 2022, Vietnamese renewable-energy company <a href="https://www.futureflight.aero/news-article/2022-11-29/pacific-group-preorders-skydrive-sd-05-evtol-aircraft-vietnam-operations">Pacific Group </a>preordered 10 of the <a href="https://www.futureflight.aero/aircraft-program/skydrive">SD-05</a> model and committed to options for another 90 units. This agreement will now cover the new three-seat version of the aircraft.
Along with CT UAV, it will work with SkyDrive to develop business models and support infrastructure for eVTOL air services in Vietnam, where economic growth is colliding with crowded urban transportation networks.&nbsp;CT UAV,&nbsp;one of nine CT Group businesses, is working to integrate artificial intelligence with uncrewed vehicle technology and is active in drone development and operations. CT Group is also involved in urban development, construction,&nbsp;and logistics.
<h3 class="subheading">South Carolina Has Advanced Air Mobility Ambitions</h3>
Toyota City-based SkyDrive announced the deal with Austin Aviation during an event on July 20 in Beaufort, South Carolina, where it is already working with ground infrastructure group Volatus to develop plans for advanced air mobility (AAM) services in the state. Beaufort is the Japanese company’s <a href="https://www.futureflight.aero/news-article/2023-01-26/japans-skydrive-focuses-south-carolina-us-evtol-services">U.S. headquarters </a>and Austin Aviation is based 45 miles away in Walterboro. 
Austin Aviation is a subsidiary of Lowcountry Aviation Company. It has agreed to make its facilities available to SkyDrive as part of its plans to expand operations in the U.S.
“Sustainable electric propulsion vertical takeoff and landing vehicles are the next new exciting challenge in general aviation, following the early lead of the automotive industry with electric propulsion,” said Austin Aviation president Alex Cavazzoni. “With the SkyDrive vehicle and all South Carolina stakeholders, we look forward to being a part of this exciting new chapter in general aviation, as this new pioneering electric technology matures into reality.”
SkyDrive&nbsp;founder and CEO Tomohiro Fukuzawa was in Beaufort for the signing event. He said that since announcing plans to enter the U.S. market in January, the company has received “an overwhelming amount of support from local, regional, and state organizations” in South Carolina. SkyDrive's backers include the Japanese automotive group <a href="https://www.futureflight.aero/news-article/2022-03-22/car-maker-suzuki-backs-skydrives-plans-bring-flying-car-market">Suzuki</a>.
Earlier this year, SkyDrive announced other provisional orders for the SD-05 vehicle from the Japanese engineering group <a href="https://www.futureflight.aero/news-article/2023-04-19/japanese-engineering-group-taiho-orders-skydrives-sd-05-evtol-aircraft">Taiho</a>&nbsp;and also from Drone Fund venture&nbsp;capitalist&nbsp;founder <a href="https://www.futureflight.aero/news-article/2023-04-13/skydrive-signs-first-private-use-preorder-sd-05-evtol-aircraft">Kotaro Chiba</a>. The latter agreement was the company's first sale of its eVTOL vehicles to a private owner who intends to fly the aircraft himself.
This story was updated on July 24 to clarify that the new three-seat version of SkyDrive's eVTOL aircraft will retain the SD-05 designation used for the original two-seat design. The company will not produce the two-seat model.

SkyDrive Reports More Provisional eVTOL Aircraft Sales in Vietnam and South Carolina

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South Carolina-based Austin Aviation has committed to buying five of the three-seat eVTOL from Japan's SkyDrive, which also logged new sales in Vietnam.

U.S. Charter Operator Orders SkyDrive's eVTOL Air Taxi

Japanese electric aircraft developer SkyDrive plans to manufacture its eVTOL air taxi in a factory owned by car maker Suzuki Motor Corporation, the company said this week during the Paris Air Show. It also announced that avionics specialist Thales will provide the aircraft's flight controls.&nbsp;&nbsp;
SkyDrive has also updated the design of its eVTOL aircraft to include an additional seat. Now with three seats, the <a href="https://www.futureflight.aero/news-article/2023-04-13/skydrive-signs-first-private-use-preorder-sd-05-evtol-aircraft">fully electric aircraft</a> will carry up to two passengers plus one pilot on short flights of up to 15 kilometers (9 miles), according to SkyDrive.&nbsp;
While to date the company has called its two-seat model the SD-05, it will name the&nbsp;production series aircraft simply “SkyDrive.”&nbsp;The company aims to gain airworthiness certification for the three-seat SkyDrive model in time to fly it at the Osaka World Expo in 2025. It expects to achieve type certification and enter service in 2026.&nbsp;
Suzuki and SkyDrive will begin building the eVTOL aircraft in 2024 at a Suzuki production facility located in Japan’s Shizuoka Prefecture. SkyDrive says it is establishing a wholly-owned manufacturing subsidiary to oversee the vehicle’s production in tandem with Suzuki, which has served as a <a href="https://www.futureflight.aero/news-article/2022-03-22/car-maker-suzuki-backs-skydrives-plans-bring-flying-car-market">partner company</a> since 2022. The as-yet-unnamed manufacturing subsidiary will work together with Suzuki to secure human resources and make other preparations to establish the new eVTOL production line at the carmaking plant.&nbsp;
“At Suzuki, all manufacturing activities are based on a concept: smaller, fewer, lighter, shorter, and neater,” said SkyDrive CEO Tomohiro Fukuzawa. “In our pursuit to consistently manufacture safe and high-quality aircraft for the world, we are grateful for the valuable know-how we will learn from Suzuki, a global leader in automobile mass production.

SkyDrive to Build Three-Seat eVTOL Aircraft at Suzuki Factory

SkyDrive has started accepting preorders from private individuals for its SD-05 two-seat eVTOL aircraft. The Japanese company has been securing preorders from business customers since unveiling a <a href="https://www.futureflight.aero/news-article/2022-09-26/new-funding-skydrive-unveils-two-seat-short-hop-evtol-aircraft">new design</a> for the vehicle in September 2022, with Vietnam’s Pacific Group being the first to commit with an agreement to take up to 100 units.
On April 13, Kotaro Chiba, co-founder and managing partner of the venture capital group Drone Fund, signed an agreement with SkyDrive to preorder the aircraft. He was the first investor in the company back in November 2018 and has supported more than 60 start-ups.
SkyDrive did not disclose the terms of the new personal-use preorder agreements, including whether or not they are backed by a down payment. The company has also not revealed the purchase price for the SD-05 vehicle, which it aims&nbsp;to start delivering in 2025.
<h3 class="subheading">Series C Funding Round&nbsp;Increases Capital Pot</h3>
Earlier this week, SkyDrive reported that it has raised further capital&nbsp;via its Series C funding round with undisclosed investments from Japan's MUFG Bank and a target fund including electronic components group Murata Manufacturing. The company said that the total raised through the Series C campaign now exceeds 10 billion yen ($75.1&nbsp;million), representing an increase of just over $3 million since the company's funding announcement in September 2022, when the total raised stood at 9.6 billion yen. The company says that since it launched in 2018, &nbsp;it has raised more than 15 billion yen ($112.6&nbsp;million).&nbsp;
Chiba, who&nbsp;owns a HondaJet, holds a pilot’s license. SkyDrive says, however, that personal-use customers for the SD-05 will not be required to be licensed pilots.
“In 2018, I was captivated by SkyDrive’s vision of the future and its innovative aircraft, fueling my dream of flying cars,” Chiba commented. “Upon seeing the company’s first prototype, I was convinced that my dream was finally within reach, and I enthusiastically made the decision to invest in SkyDrive. Since then, SkyDrive has conducted successful crewed test flights and applied for type certification, further solidifying my confidence in the team’s ability to make the dream a reality.”
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 <div class="field field--name-field-caption field--type-string-long field--label-hidden field__item">Venture capitalist Kotaro Chiba (left) and SkyDrive founder and CEO Tomohiro Fukuzawa signed the first personal use pre-order for the SD-05 eVTOL aircraft. (Image: SkyDrive)</div>
 
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<figcaption>Venture capitalist Kotaro Chiba (left) and SkyDrive founder and CEO Tomohiro Fukuzawa signed the first personal use preorder for the SD-05 eVTOL aircraft. (Image: SkyDrive)</figcaption>
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According to SkyDrive founder and CEO Tomohiro Fukuzawa, the company has fielded numerous inquiries from both private and commercial customers, including <a href="https://www.futureflight.aero/news-article/2022-11-29/pacific-group-preorders-skydrive-sd-05-evtol-aircraft-vietnam-operations">Pacific Group</a>, which holds 10 confirmed preorders and options for another 90 aircraft. SkyDrive said that “after careful consideration” it opened the order book to private individuals. Last year, the company announced plans to establish a base in <a href="https://www.futureflight.aero/news-article/2023-01-26/japans-skydrive-focuses-south-carolina-us-evtol-services">South Carolina </a>to gain access to the U.S. market.
“As we aim to create a future where everyone has access to eVTOLs as [part of] their daily transportation, we understand that it is important that we have an option for individuals to own their aircraft,” Fukuzawa commented. “We will develop fully automated aircraft in the future and further promote the realization of a society where everyone utilizes the sky for daily transportation.”

SkyDrive Signs First Private-use Preorder for SD-05 eVTOL Aircraft

Japanese eVTOL aircraft developer SkyDrive this week said it will enter the U.S. market through joint work with multiple partners in South Carolina to develop uses for its vehicles. The company, which announced&nbsp;the plans during the Vertical Flight Society’s eVTOL Symposium in Mesa, Arizona, will set up a team in Beaufort County to work with local and state officials.
Development efforts for early applications with SkyDrive's two-seat SD-05 aircraft will hinge on air taxi operations serving multiple local communities. The management teams from Columbia Metropolitan Airport and Greenville Downtown Airport are involved in the project. 
Columbia has around 26 daily commercial airline flights, while Greenville is a general aviation facility. Also in the area is the upscale community of Hilton Head Island.
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<div class="block block-layout-builder block-field-blockmediaimagefield-caption">
 
 
 
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<figcaption>SkyDrive wants to establish eVTOL air taxi services connecting communities with local airports in South Carolina. (Image: SkyDrive)</figcaption>
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SkyDrive says it aims to achieve FAA type certification for the SD-05 model that it <a href="https://www.futureflight.aero/news-article/2022-09-26/new-funding-skydrive-unveils-two-seat-short-hop-evtol-aircraft">unveiled in September 2022</a>. First, it is working to get approval from Japan’s air safety regulator in time to start air taxi services during the World Expo 2025 event in Osaka. It is also seeking early sales commitments in Asian markets, including <a href="https://www.futureflight.aero/news-article/2022-11-29/pacific-group-preorders-skydrive-sd-05-evtol-aircraft-vietnam-operations">Vietnam</a>.
According to the Japanese start-up, which last year raised 9.6 billion yen ($66.7&nbsp;million) in a Series C funding round, the all-electric vehicle is intended for flights of up to just 10 kilometers&nbsp;(six&nbsp;miles). The projected range is far less than that of most other in-development eVTOL aircraft, which are generally expected to be able to fly sectors of between around 35 and 160 kilometers (22 to 100 miles). 
The design features 12 motor-propeller units installed in the corners of the upper airframe. SkyDrive’s program partners include cabin interior specialist Jamco, composite materials group Carbon Fiber Reinforcement Plastics, and battery manufacturer Electric Power Systems.
Initially, SkyDrive plans to manufacture the SD-05 in <a href="https://www.futureflight.aero/news-article/2022-05-03/japanese-regulator-approves-type-certification-basis-skydrives-personal">Japan</a>, but it indicated that it would consider opening a U.S. production line if local sales increase. The company plans to engage with prospective operators in the South Carolina area but has not yet established a timeline for when services might begin.
“The decision to make South Carolina our home base and our window into the U.S. market was an easy one considering that it is a significant player in both the commercial and military aviation industries, and it is home to more than 400 aerospace and aviation companies, including Boeing and Lockheed Martin,” commented SkyDrive founder and CEO Tomohiro Fukuzawa. 
Beaufort County is on the border with Georgia, where business jet maker Gulfstream Aerospace is a major employer. Other local aviation companies include composites manufacturer <a href="https://www.futureflight.aero/news-article/2022-07-18/skydrive-picks-toray-supply-composites-personal-evtol">Toray</a>, which is a supplier to SkyDrive.

Japan's SkyDrive Focuses on South Carolina for U.S. eVTOL Services

Vietnamese renewable-energy company Pacific Group has preordered 10 <a href="https://www.futureflight.aero/aircraft-program/skydrive">SD-05</a> eVTOL aircraft from Japan’s SkyDrive, the companies announced on Monday. Under a newly signed memorandum of understanding, Pacific Group conditionally agreed to purchase the aircraft, with an option to order up to 90 more.&nbsp;
SkyDrive, which is based in Japan, has been developing personal eVTOL aircraft, or “flying cars,” and cargo drones since 2018. The SD-05, which SkyDrive <a href="https://www.futureflight.aero/news-article/2022-09-26/new-funding-skydrive-unveils-two-seat-short-hop-evtol-aircraft">revealed in September</a>, is a fully electric, two-seat eVTOL aircraft designed to make flights of up to 10 kilometers (six miles), traveling at a maximum altitude of 500 meters (1,600 feet) and a cruise speed of 100 km/h (62 mph).&nbsp;
The SD-05 will be SkyDrive’s first eVTOL vehicle to be evaluated for <a href="https://www.futureflight.aero/news-article/2021-11-01/japanese-type-certification-skydrive-personal-evtol-gets-underway">type certification</a>, but it won’t be the company’s production model. SkyDrive has said its production aircraft will be the as-yet-unnamed SD-XX, which will be similar to the SD-05. The company’s earlier prototype, a single-seat eVTOL aircraft&nbsp;called the SD-03, made its first test flight in August 2020, and SkyDrive plans to begin flight testing with the SD-05 in 2024. SkyDrive plans to have the new aircraft ready to start air taxi services during the World Expo 2025, which the Japanese city of Osaka will host.
Pacific Group has also agreed to collaborate with SkyDrive in researching sustainable and accessible mobility solutions for the Vietnamese market. In addition to exploring use cases for the SD-05, the companies will evaluate other aspects of Vietnam's urban air mobility ecosystem, such as vertiports and other infrastructure requirements.&nbsp;
“The urban streets in Vietnam, crowded with motorcycles and [automobiles], are vibrant and exciting. However, considering the current social problem of traffic safety and greenhouse gas emissions, I think this is one of the most important social issues that need to be addressed,” said SkyDrive CEO Tomohiro Fukuzawa.&nbsp;
“The number of motorcycles and [automobiles] is only increasing, and it takes time to develop roads and parking lots,” Fukuzawa added. “We would be happy to contribute to solving Vietnam’s social issues by providing eVTOLs, a means of transportation using the sky, as one of the country’s new transportation infrastructures.”
Introducing eVTOL aircraft&nbsp;in Vietnam could help the country reach its goal of achieving net-zero carbon emissions by 2050, said Le Ngoc Anh Minh, the executive president and founder of Pacific Group. He added that 2023 will mark the 50-year anniversary of diplomatic relations between Vietnam and Japan, “and we really hope to create several activities with SkyDrive to promote this eVTOL not only for our business but also for contributing to the two nations’&nbsp;scientific and friendship collaboration.”

Pacific Group Preorders SkyDrive SD-05 eVTOL Aircraft for Vietnam Operations

SkyDrive has unveiled the design for its SD-05 eVTOL aircraft, with images presented on September 26 showing significant changes from the <a href="https://www.futureflight.aero/news-article/2022-01-06/skydrives-personal-evtol-vehicle-makes-international-debut">SD-03 </a>model, which&nbsp;made its first flight in August 2020. The Japanese start-up, which has also just raised 9.6 billion yen ($66.7&nbsp;million) in a Series C funding round, said that the two-seat, all-electric vehicle is intended for short flights of up to just 10 km (six&nbsp;miles).
The company told FutureFlight it expects to conduct flight testing in 2024 with the aim of getting approval to start air taxi services during the World Expo 2025 to be hosted by the Japanese city of Osaka. It would not say when it will build the first full-scale prototype, but it has already agreed on a <a href="https://www.futureflight.aero/news-article/2021-11-01/japanese-type-certification-skydrive-personal-evtol-gets-underway">type certification</a> process with Japan’s Ministry of Land, Infrastructure, Transport, and Tourism.
The projected 10-km range is far less than that of most other in-development eVTOL aircraft, which are generally expected to be able to fly sectors of between around 35 and 160 kilometers (22 to 100 miles). With a pilot and a single passenger on board, SkyDrive says, the <a href="https://www.futureflight.aero/aircraft-program/skydrive">SD-05 </a>will provide “a shortcut” where local geography or constrained existing public transportation is inconvenient for travelers.
“This vehicle is not just a simple means of traveling from point A to B,” said the company’s design director, Takumi Yamaoto. “Based on the design concept of ‘giving wings to daily travel,’ it is also a safer and more enjoyable travel partner.”
The Osaka Bay area is viewed as a suitable early-adopter market for the “last-mile” flight solution because of the constraints of road transportation. SkyDrive claimed it could take 40 minutes to drive one kilometer, while the SD-05 would make the same trip in barely five&nbsp;minutes. The company sees the vehicle as having applications for tourism and emergency medical flights.
The design presented on September 26 shows 12 motor-propeller units installed in the corners of the upper airframe. SkyDrive’s program partners include cabin interior specialist Jamco, composite materials group Carbon Fiber Reinforcement Plastics, and battery manufacturer Electric Power Systems.
The Toyota City-based company’s C Series funding round was backed by 13 companies, taking the total raised by SkyDrive so far to 14.7 billion yen. It was underwritten by groups including the <a href="https://www.futureflight.aero/news-article/2022-03-22/car-maker-suzuki-backs-skydrives-plans-bring-flying-car-market">Suzuki Motor Corp</a>., the Kansai Electric Power Company, Kintetsu Group Holdings, and Sumitomo Mitsui Trust Bank.&nbsp;

With New Funding, SkyDrive Unveils Two-Seat, Short-hop eVTOL Aircraft

The Japanese personal eVTOL maker SkyDrive has selected Toray Carbon Magic to develop advanced carbon fiber-reinforced plastics for the structure of its SD-05 flying car.&nbsp;
<a href="https://www.futureflight.aero/aircraft-program/skydrive">SkyDrive’s SD-05</a> is a fully electric, two-seat flying car for which the start-up&nbsp;is seeking type certification. The Japan Civil Aviation Bureau (JCAB) <a href="https://www.futureflight.aero/news-article/2022-05-03/japanese-regulator-approves-type-certification-basis-skydrives-personal">approved the type certification basis</a> for the SD-05 in May, and SkyDrive plans to have the SD-05 enter service in Japan’s Osaka Bay area by 2025.
According to SkyDrive, Toray’s advanced composite materials will help the eVTOL manufacturer make its flying car lighter, stronger, and more energy efficient. Toray has extensive experience providing carbon fiber-reinforced plastics for the automotive and aerospace industries. The companies have already begun conformity assessments to determine whether the new material will meet SkyDrive’s required specifications for the SD-05.
“Toray Carbon Magic’s advanced carbon fiber reinforced plastic is an essential element of our two-seater aircraft SD-05," SkyDrive CEO Tomohiro Fukuzawa said in the July 18 announcement. "Starting with this material compatibility testing, we will continue to work closely together to promote the development of a light and strong ‘flying car’ airframe structure, with the aim of realizing an air mobility society.”
Founded in 2018, SkyDrive achieved the <a href="https://www.futureflight.aero/news-article/2020-08-28/skydrive-takes-funding-past-50-million-and-flies-sd-03-car-public">first test flights</a> of its SD-03, single-seat flying car prototype in August 2020. That same month, the startup announced that it had raised ¥3.9 billion ($31 million) in a Series B funding round to support its development of flying cars and cargo drones. To date, the company has raised more than $50 million. In March 2022, the Japanese car maker <a href="https://www.futureflight.aero/news-article/2022-03-22/car-maker-suzuki-backs-skydrives-plans-bring-flying-car-market">Suzuki Motor Corporation</a> joined the company’s efforts to develop the two-seat SD-05.&nbsp;
While the SD-05 is SkyDrive's first vehicle that will be evaluated for type certification, the company has said that its production model will be a new version of the aircraft known as SD-XX. Like the SD-05, the SD-XX will be a fully electric, two-seat personal eVTOL with eight propellers. SkyDrive says the SD-XX will have a maximum cruise speed of 100 km/h (62 mph) and a flight time of 20 to 30 minutes and will fly at a maximum altitude of 500 meters (1,640 feet).&nbsp;

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