Speaking at a conference organised by the Society of Motor Manufacturers and Traders Mr Cole said: “There’s some time before we can really get this off the ground.
“But we think that by the latter part of this decade certainly, urban air mobility will offer great opportunity to free up congestion in cities, to help with emissions, whether that’s intra-city mobility in the air or whether it’s even between cities.
“If you’d asked me a few years ago were flying cars something that I would see in my lifetime, I wouldn’t have believed it.
“But it’s part of our future solution of offering innovative, smart mobility solutions.”
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