In the centre of Uber's ambitious plan are small electric flying cars that would feature the VTOL technology, which means that they would be able to take off and land vertically instead of the traditional air-crafts that require a long runway to operate. It's pointed out that flying cars would significantly cut down on travelling times for commuters who often spend hours trying to get from one point to another every day.
In a statement, Uber added the goal was to "enable customers in the future to push a button and get a high-speed flight in and around cities".
Uber is working to have the first Uber Elevate Network demonstrations in Dubai and Dallas-Forth Worth by 2020 - just in time for Dubai's Expo 2020.
The ride may cost around $1.32 per passenger mile initially.
In the longer term, the company expects the cost of taking flying taxis to fall below vehicle ownership. "With brand new factory to increase their capacity, they are a valued partner in making Uber's VTOL network a reality".
The Uber platform was evolving the way the world moves with a mission to change the way citizens of the world move, work and live.
In addition to ridesharing in 80 countries, Uber is also testing self-driving cars in three U.S. metro areas.
A Dutch company, PAL-V has begun accepting pre-orders for five years after demonstrating its first successful flight, for what may be the first flying auto to enter the commercial market.
The company also said that it is partnering with a handful of aircraft manufacturers and real estate firms, as well as with ChargePoint Inc.to lay an electric charging network.
Uber expects to be up and running the commercial services by the year 2023.