Supernal, Hyundai’s electric air taxi venture, has put its aircraft development on hold after a turbulent period involving job reductions and the exits of both its CEO and CTO, according to two individuals familiar with the situation who spoke to TechCrunch.
This upheaval comes at an early stage for Supernal, whose operations have only just begun. The company’s technology demonstrator flew for the first time earlier this year, and while further tests have taken place, Supernal had not yet achieved an untethered test flight before suspending work. The firm originally aimed to introduce its commercial service in 2028.
Late last week, Supernal revealed that CEO Jaiwon Shin had stepped down. CTO David McBride is also no longer with the company, according to sources who requested anonymity to discuss internal affairs. The OC Register was first to report both the project pause and McBride’s exit.
As for its commercial service, Supernal told TechCrunch that the “recently installed leadership will evaluate and set the most suitable schedule for progress.” The company declined to address questions about McBride’s departure.
Supernal’s difficulties come at a time when the young electric air taxi sector is facing significant disruption. Some companies, such as Joby, which has Toyota’s backing, have managed to secure funding, announce new alliances, and make acquisitions. Others, like Lillium, have shuttered operations.
After being spun out from Hyundai Group in 2021, Supernal let go of dozens of employees earlier this summer, just before the leadership changes. This followed the sudden closure of its new Washington, D.C. headquarters late last year, as previously covered by TechCrunch.
Currently, David Rottblatt, Supernal’s director of business development, is managing the company’s business affairs as interim COO during this transitional period. The Hyundai Group, according to a statement about Shin’s resignation, intends to appoint a new leadership team experienced in business operations to drive forward Urban Air Mobility (UAM) initiatives and steer the company into its next growth stage.
The former CEO had long promised that first test flight. At the 2024 Consumer Electronics Show, where Supernal presented a larger static concept model, Shin spoke about being close to “testing the limits of our technology with the demonstrator.” In August 2024, McBride told Vertical Mag that this flight would “prove our capability to produce an aircraft” before targeting a commercial rollout in 2028.
This marks the second time in recent years that a futuristic Hyundai-backed startup has encountered major setbacks. In 2024, Hyundai had to increase its support for its autonomous driving company Motional after its partner Aptiv withdrew financial backing from their joint venture. This resulted in a major restructuring at Motional late last year, which included about 40% staff layoffs and CEO Karl Iagnemma’s exit.
