Porsche and Boeing (BA) have entered into a deal to “explore the premium urban air mobility market and the extension of urban traffic into airspace.” Said differently, they’re working on a flying car.

“Porsche is looking to enhance its scope as a sports car manufacturer by becoming a leading brand for premium mobility. In the longer term, this could mean moving into the third dimension of travel,” says Detlev von Platen, Member of the Executive Board for Sales and Marketing at Porsche AG. “We are combining the strengths of two leading global companies to address a potential key market segment of the future.” Said differently, they think people are ready for flying cars.

Porsche and Boeing are not alone. Airbus SE started testing a Vertical Take Off and Landing (VTOL) vehicle about a year ago and Larry Page’s Kitty Hawk company recently demonstrated a super quiet, single-passenger VTOL.