Hate traffic jams and wish you could fly and reach to your destination Well your wish might be coming true as Boeing and Porsche have joined hands to explore the opportunity. Porsche and Boeing signed a Memorandum of Understanding to explore the premium urban air mobility market and the extension of urban traffic into airspace.

"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," says Detlev von Platen, Member of the Executive Board for Sales and Marketing at Porsche AG. "We are combining the strengths of two leading global companies to address a potential key market segment of the future."

As part of the partnership, the companies will create an international team to address various aspects of urban air mobility, including analysis of the market potential for premium vehicles and possible use cases.

Boeing, Porsche and Boeing subsidiary Aurora Flight Sciences are also developing a concept for a fully electric vertical takeoff and landing vehicle. Engineers from both companies, as well as Porsche subsidiaries Porsche Engineering Services GmbH and Studio F.A. Porsche, will implement and test a prototype.

"This collaboration builds on our efforts to develop a safe and efficient new mobility ecosystem, and provides an opportunity to investigate the development of a premium urban air mobility vehicle with a leading automotive brand," said Steve Nordlund, Vice President and General Manager of Boeing NeXt, an organization that is laying the foundation for a next-generation mobility ecosystem in which autonomous and piloted vehicles can safely coexist. "Porsche and Boeing together bring precision engineering, style and innovation to accelerate urban air mobility worldwide."

Well, you might be in a flying car sooner than you think