This story was originally published May 24, 2018.

(CNN Business) Uber wants to build flying taxis in France.

The company announced Thursday that it plans to invest €20 million ($23.4 million) in developing an all-electric vertical takeoff and landing aircraft in France over the next five years.

It will open a new research and development center in Paris, its first technology hub outside of North America.

"France is a perfect home for our next step forward with its strong history of research and development, world class engineers and a unique role in aviation worldwide," Uber said in a statement.

The company already has R&D offices in Pittsburgh, Toronto, and San Francisco. They focus mainly on Uber's self-driving technology, but have also been working on Uber's Elevate flying car program

Read More