Sir Richard Branson’s Virgin Galactic is mulling a move into “flying cars” that could transport passengers across cities as it branches out from its original goal of taking tourists into space.
Shareholder documents filed ahead of the company’s upcoming reverse listing, in which it will float shares on Wall Street via a merger with a Silicon Valley investment vehicle, reveal that the company is exploring “urban air mobility” as one potential use of its technology.
Companies such as Uber and Boeing are already investing in electric aerial vehicles that would take off and land vertically, and are seen as a solution to congestion in major cities.
“Potential applications of our technology include urban air mobility, or the ability to enable rapid, reliable transportation within cities and urban areas,” Virgin Galactic said in documents filed by Social Capital Hedosophia (SCH), which the company is merging with.
In July, Virgin Galactic announced plans to merge with SCH, a “blank cheque” investment firm set up to identify and merge with a private company, which will make Virgin Galactic the first public-listed space tourism company.