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Hyundai, Hanwha poised to compete in UAM market Posted : 2021-05-03 16:47 By Kim Hyun-bin Hyundai Motor Group and Hanwha Group are focusing on urban air mobility (UAM) as one of their key future growth engines, with the aim of entering the air taxi industry and even the military market. Hanwha Systems is cooperating with global companies to commercialize its air taxi business. The company is in partnership with Overair, in which it bought a 30 percent stake in 2020. Hanwha Systems and Overair are collaborating to develop an air taxi version of the Butterfly, its vertical take-off and landing (VTOL) aircraft. It initially developed a military-purpose Butterfly. The aircraft s maximum speed is 320 kilometers per hour. ....