- General Motors (GM +6.2%) continues to make noise at CES with talk of the company's personal air mobility plans today adding to the buzz over the new BrightDrop business unit aimed at providing delivery vans and services.
- In a surprise reveal, the company says Cadillac’s portfolio under the Halo Portfolio will include an electric vertical take-off and landing aircraft. The Cadillac eVTOL aircraft would use a 90kWh electric motor to power four rotors to enable vertical takeoff and landing across rooftops or urban destinations at a top speed of 56 mph.
- GM Global Design exec Michael Simcoe says the concept reflects the needs and wants of the passengers at a particular moment in time and GM's vision of the future of transportation.
- "This is a special moment for General Motors as we reimagine the future of personal transportation for the next five years and beyond," says.
- GM trades at a 52-week high after the CES flurry of announcements and positive early reaction from Wall Street.
- Flying cars is not a new next-gen investment theme on Seeking Alpha, but another incremental step forward for an industry idea that may or may not develop. Just today, Fiat Chrysler (NYSE:FCAU) announced a collaboration with Archer and last month the U.S. military showed some interest in the concept. Last year, Hyundai (OTCPK:HYMLF) teamed up with Uber (NYSE:UBER) to develop electric air taxis and Toyota (NYSE:TM) led an investment round in startup Joby. Also in the mix, Daimler (OTCPK:DDAIF) and Geely Automobile (OTCPK:GELYF) have invested in Germany-based Volocopter, while Volkswagen's (OTCPK:VWAGY) Porsche and Boeing (NYSE:BA) have also partnered up.
