The project will involve engineers from Boeing, Porsche, and Boeing subsidiary Aurora Flight Sciences, which makes unmanned aerial vehicles. The companies are exploring whether there's a market for premium vehicles.
Boeing has a bit of a head start already. Aurora Flight Sciences in January completed its first test flight of an autonomous air vehicle. However, that looked more like a traditional aircraft.
Boeing's NeXt unit heads up the company's 'urban air mobility' projects and used Aurora Flight Sciences to develop the EVTOL vehicle.
"This collaboration builds on our efforts to develop a safe and efficient new mobility ecosystem, and provides an opportunity to investigate the development of a premium urban air mobility vehicle with a leading automotive brand," said Steve Nordlund, vice president and general manager of Boeing NeXt.
"Porsche and Boeing together bring precision engineering, style and innovation to accelerate urban air mobility worldwide."
While Jetson-style flying cars seem far-fetched and face numerous safety obstacles, consulting firms are pretty upbeat about their potential.
Deloitte predicts sales will start slowly in the US, but by 2025 it expects EVTOL vehicles sales to reach $3.4bn. Porsche Consulting, which provides services to the aviation industry, expects EVTOL sales to pick up by 2025.