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WASHINGTON, Feb. 21, 2024 /PRNewswire/ -- Supernal LLC – Hyundai Motor Group's Advanced Air Mobility (AAM) company inked two Memorandums of Understanding (MOUs) with the Singapore Economic Development Board (EDB) and the Civil Aviation Authority of Singapore (CAAS) respectively to further develop AAM capabilities and expertise in Singapore and the Asia-Pacific region today at Singapore Airshow 2024. The partnerships will drive a variety of activities, including developing research and development (R&D) initiatives, identifying potential use cases, exchanging information to support safety regulatory framework and standards development, and driving public engagement for AAM.
2 Under the MOU between EDB and Supernal:
3 Under the MOU between CAAS and Supernal:
4 "With the Asia-Pacific region's growing prominence in the aviation industry, we see the area as vital to Advanced Air Mobility's future," said Jaiwon Shin, President of Hyundai Motor Group and CEO of Supernal. "These partnerships mark the latest in Supernal's growing list of collaborations that are designed to advance its mission of making AAM an efficient and reliable option for everyday transportation. Such partnerships will not only allow us to contribute to AAM's development and growth while deepening ties with key stakeholders, but they are also essential for using AAM as a catalyst to fuel sustainable economic growth in one of the world's fastest-growing markets."
5 "Working with EDB and CAAS exemplifies how collaboration between government and industry can help make AAM a reality," said Shin. "Our approach is to develop mutually beneficial partnerships like these to create a tenable business and operational case for stakeholders across the value chain – from manufacturers and regulators to operators and passengers. Insights from both entities will maximize outcomes and prove the value of AAM, especially in a forward-thinking market like Singapore."
6 Ms Jacqueline Poh, Managing Director, Singapore Economic Development Board, said: "Advanced air mobility has the potential to be a new and exciting niche in Singapore's aerospace sector, creating good business opportunities while also opening new alternatives for getting around the region. As one of Asia's leading aerospace ecosystems, Singapore offers global companies established capabilities, including a strong talent pool, to undertake a spectrum of activities across Research and Development, manufacturing, and Maintenance, Repair and Overhaul (MRO). We are delighted to partner with Supernal and welcome more players to join us as we grow the AAM ecosystem here."
7 Mr Han Kok Juan, Director-General of CAAS, said: "The development and deployment of AAM will require new rules and regulations that allow us to leverage technology while ensuring security and public and aviation safety. Collaboration amongst regulators and with industry to pool expertise and resources and to identify and mitigate risks will help us put in place the necessary regulatory requirements in a more effective and efficient manner. In November last year, CAAS convened the first-ever meeting of Asia-Pacific regulators and engagement with industry for this purpose. The CAAS-Supernal MOU builds on this and is a pathfinder for the larger effort."
About Supernal
Supernal (Su•per•nal) is an Advanced Air Mobility company that's developing an electric vertical take-off and landing (eVTOL) vehicle and the ground-to-air ecosystem to support the emerging industry. As part of the Hyundai Motor group, Supernal is harnessing world-class manufacturing, automation, supply chain and R&D expertise to make this new, efficient transportation option widely accessible in the coming decades. Simply put: Rather than being first to market, we're building the right product and right market, first. Visit Supernal's newsroom site for more information and follow us on LinkedIn.
About the Singapore Economic Development Board
The Singapore Economic Development Board (EDB), a government agency under the Ministry of Trade and Industry, is responsible for strategies that enhance Singapore's position as a global centre for business, innovation, and talent. We undertake investment promotion and industry development, and work with international businesses, both foreign and local, by providing information, connection to partners and access to government incentives for their investments. Our mission is to create sustainable economic growth, with vibrant business and good job opportunities for Singapore and Singaporeans. For more information on EDB, please visit https://www.edb.gov.sg.
About the Civil Aviation Authority of Singapore
The mission of the Civil Aviation Authority of Singapore (CAAS) is to grow a safe, vibrant air hub and civil aviation system, making a key contribution to Singapore's success. CAAS' roles are to oversee and promote safety in the aviation industry, develop the air hub and aviation industry, provide air navigation services, provide aviation training for human resource development, and contribute to the development of international civil aviation. For more information, visit www.caas.gov.sg.
For more information, please contact:
Ms Jennifer Darland
Supernal
jennifer.darland@supernal.aero
Ms Mary Ann Peters
Brand, Marketing & Communications
Singapore Economic Development Board
Email: Mary_Ann_PETERS@edb.gov.sg
Mobile: +65 6832 6076
Ms Abigail Lim
Corporate Communications
Civil Aviation Authority of Singapore
Email: Abigail_Lim@caas.gov.sg
Mobile: +65 8512 9557
