Aircraft Startup Electra To Invest $850 Million To Build Ohio Factory

Story and Image Credit: David Shepardson
Reuters.com

Hybrid-electric aircraft startup Electra said Tuesday it will invest $850 million to build a production facility to assemble ​its nine-passenger hybrid-electric aircraft in Springfield, Ohio.

The company, backed by Honeywell Aerospace, Safran ‌and other major investors, said the move will help get the EL9 Ultra Short from development into significant commercial production and create 1,975 jobs.

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The EL9 is a fixed-wing aircraft that uses hybrid-electric propulsion to take off ​and land in as little as 150 feet and aims to bring air ​travel for point-to-point routes up to 250 miles that might otherwise be served ⁠by cars in a new category called “Direct Aviation” using access points such as parking lots, ​barges and sports fields.

“The investment timing is all about having a clear view of the market. ​The demand is there, the product is there,” said Electra CEO Marc Allen in an interview at Farnborough airshow. “We’re in the certification pathway with the FAA, and we’re making really good progress. It’s time to build ​a factory.”

Allen said there are 32 million trips happening daily across the continental U.S. ​between 50 miles and 250 miles with just 0.6% taken by air. The planes do not need a ‌long ⁠runway, so they can land almost anywhere.

The company is working to win FAA certification and expects to have its first flight in late 2027 or 2028. The initial phase will support capacity for up to 400 aircraft per year.

Companies are spending billions of dollars on next-generation air ​mobility solutions like flying ​air taxis, also known ⁠as electric vertical take-off and landing aircraft.

Electra investors include Lockheed Martin Ventures (LMT.N), opens new tab, Honeywell (HONA.O), opens new tab and Safran Corporate Ventures (SAF.PA), opens new tab.

Last week, Electra said it signed a ​production agreement with Safran Helicopter Engines that includes an initial order for ​250 turbogenerators. ⁠A turbogenerator is a gas turbine combined with one or more electric generators and a system of electrical power and voltage regulation.

Electra was among the companies selected by the U.S. government’s ⁠pilot program ​aimed at speeding up deployment of flying air taxis ​and other advanced air mobility technology.

Electra is working to allow the EL9 aircraft to enter service in 2030. Electra ​has 2,200 aircraft ordered by 63 customers awaiting deliveries.

… notes from SP

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Electric-Hybrid E Automotive, E Aviation, E Marine Technology & Future Innovative Electric-Hybrid VTOL Aerospace Tech News Around The World! EVHNews.com is a dedicated global digital Technology platform for EVVTOL a Global EV / Hybrid Automotive, E-Aviation, E-VTOL, E-Marine Future Technology Industry Show & Expo Event Organization where the world biggest EV & E-VTOL brands invest in the future of transportation. EV H News is committed to the Electric Vehicles & EV-Hybrid Automotive, E-Aviation E-VTOL-UAV E-Marine, industry including e-mobility e-semi & e-truck. This digital platform will include reviews and resources from global industry leaders, many with a focus on clean blue technology and alternative fuels where applicable. EVH news platform is for all to have access to the tools and information available for the future for breakthrough e-technology of the e-automotive, e-aviation, e-marine, e-motorcycle e-semi & e-truck e-motorsport industries. About EVVTOL • EVVTOL a new corporation branding itself as the most Influential global future technology show / expo event organization by strategically positioning itself to successfully facilitate EV and VTOL transportation industry clients with their needs! • EVVTOL’s goal is to showcase the EV & VTOL industry and introduce the major EV & VTOL vehicles and component manufactures in the e-tech world by unveiling and displaying cutting-edge EV & E-VTOL technology. • EVVTOL mission is to introduce multiple technology shows & expos including influential high-level EV business summits based on the dual themes of business engagement with key manufacturers working in the EV & E mobility Industry, energy vehicle information technology and charging infrastructure Industry. These events are excellent opportunities to learn about and discuss the latest future transportation technology advancements in EV& VTOL industry, and the battery energy challenges that still remain. (evvtol.org) 877-4EV-VTOL (877-438-8865)

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