Press Release
21 February 2024
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.
Under the MOU between EDB and Supernal:
Under the MOU between CAAS and Supernal:
“With the Asia-Pacific region’s growing prominence in the aviation industry, we see the area as vital to Advanced Air Mobility’s future. 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 keystakeholders, 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.”
Jaiwon Shin
President of Hyundai Motor Group and CEO
Supernal
“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.”
“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.”
Jacqueline Poh
Managing Director
EDB
“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.”
Han Kok Juan
Director-General
CAAS
Press Release
21 February 2024