Hyundai’s $1.7B Flying Car Startup Slashes 80% of Staff

Summary: In January 2026, tech layoffs reached a peak not seen since 2009, with Supernal, a Hyundai Motor Group-owned flying EV startup, cutting 80% of its workforce amid challenges with autonomous aircraft development. The $1.7 billion company reduced its staff by 296 employees, focusing on a new business model while halting the progress of its S-A2 eVTOL aircraft.

Brands mentioned: Hyundai, Lucid Motors, General Motors, Airbus, Textron, Joby Aviation, Vertical Aerospace, Archer Aviation.