Suzuki Makes Additional Investment in SkyDrive
Suzuki Motor Corporation (headquartered in Hamamatsu City, Shizuoka Prefecture; Toshihiro Suzuki, Representative Director and President; hereinafter “Suzuki”) has made additional investments in SkyDrive Inc. (headquartered in Toyota City, Aichi Prefecture; Tomohiro Fukuzawa, CEO President and Representative Director; hereinafter “SkyDrive”) through their third-party allocation of shares in December 2023.
Suzuki and SkyDrive started a partnership on business and technology of flying cars in March 2022, and Suzuki invested in SkyDrive later in September. Subsequently in October 2023, Suzuki concluded a Manufacturing Cooperation Contract with SkyDrive to utilize a plant owned by the Suzuki Group in Iwata City, Shizuoka Prefecture for manufacturing of flying cars. SkyDrive aims to start the manufacturing of "SKYDRIVE (SD-05 type)" around spring of 2024.
Also, Suzuki and SkyDrive are co-exhibiting at the Global Trade Show which is being held in India during a Gujarat state event called the Vibrant Gujarat held in Gandhinagar, Gujarat. Under the partnership, the two companies will further explore possibilities for business development in India.
From left, Toshihiro Suzuki, President of Suzuki, and Tomohiro Fukuzawa, Chief Executive Officer of SkyDrive.