Supernal Suspends Aircraft Development Following Executive Turnover
Hyundai’s electric vertical takeoff and landing (eVTOL) startup, Supernal, has paused its aircraft program after a period marked by executive departures and workforce reductions. Two sources familiar with the matter confirmed to TechCrunch that both CEO Jaiwon Shin and CTO David McBride have left the company amid these upheavals.
Supernal, spun off from Hyundai Group in 2021, recently completed initial test flights of its technology demonstrator earlier this year. However, the company had yet to conduct its first untethered test flight before announcing the pause. The startup had targeted a commercial service launch for 2028, but its future timeline will now be reassessed by incoming leadership.
Leadership Changes and Operational Restructuring
The departure of CEO Shin was publicly announced last week, while McBride’s exit was confirmed by anonymous sources. Supernal declined to comment on McBride’s departure but stated that the newly appointed leadership will evaluate the optimal path forward for the commercial rollout.
During this transition, David Rottblatt, Supernal’s senior business development director, has been appointed interim COO to oversee business operations. Hyundai Group plans to install new executives with extensive experience in business operations to steer the company’s urban air mobility (UAM) initiatives toward growth.
Context Within the Urban Air Mobility Sector
Supernal’s challenges emerge amid a turbulent period for the electric air taxi market. While some startups, such as Toyota-backed Joby Aviation, continue to secure funding and partnerships, others like Lilium have ceased operations. Earlier this year, Supernal reduced its workforce and closed its Washington, D.C. headquarters, indicating operational difficulties.
This situation parallels Hyundai’s autonomous vehicle venture, Motional, which experienced significant restructuring and leadership changes after its partner Aptiv withdrew funding. These developments highlight the volatility and high stakes in emerging transportation technologies.
Looking Ahead
Supernal’s initial test flights were a critical milestone touted by former CEO Shin, who emphasized progress at the 2024 Consumer Electronics Show. CTO McBride had also underscored the importance of these tests in validating the aircraft’s design ahead of the planned 2028 launch.
As Supernal pauses to recalibrate, stakeholders will closely watch how the company’s new leadership shapes the future of its eVTOL program and whether it can navigate the complex landscape of urban air mobility innovation.
FinOracleAI — Market View
The reported pause in Supernal’s aircraft program and executive departures represent a setback for Hyundai’s ambitions in the eVTOL market. This development introduces uncertainty around the company’s 2028 commercial launch target and may dampen investor sentiment toward urban air mobility startups tied to traditional automotive conglomerates.
Risks include potential delays in technological development and market entry amid intensifying competition. However, the appointment of new leadership with operational expertise could stabilize the company’s trajectory if effectively executed.
Market participants should monitor upcoming announcements on leadership appointments and revised timelines to gauge Supernal’s recovery prospects.
Impact: negative
