The companies will also form a joint worldwide team to analyze the market and uses for premium air mobility vehicles. Porsche's announcement says they'll create an global team as part of the Memorandum of Understanding they signed.
The partnership focuses on "premium personal urban air mobility vehicles" and the two companies will explore their market potential and possible use cases.
Over half a dozen companies big and small are working on flying auto prototypes, among them Airbus, Uber, AeroMobil, Zee.Aero, Terrafugia, EHang, Joby Aviation and Russia's Siberian Aeronautical Research Institute.
They went on to suggest that these new air transport means of travel will be less expensive than current earthbound travel means, and that they'll be far more flexible than anything we've got today.
You might be wondering why Porsche is expanding outside of its realm of performance cars. Earlier this year there was a test flight of a prototype that could hold 2 to 4 people and had a range of 50 miles. Porsche will play an important role in the model's development as both Porsche Engineering Services GmbH and Studio F.A. Porsche will be involved as well as engineers from Boeing. Even in cities with 100 percent electric vehicle traffic, the gridlock from increased rides could potentially result in an overall increase in energy consumption.
Detlev von Platen, sales and marketing board member at Porsche, said the flying auto project was aimed at "enhancing" Porsche's "scope as a sports vehicle manufacturer by becoming a leading brand for premium mobility", with these plans possibly meaning "moving into the third dimension of travel" over the long term.