Volant Aerotech, a Shanghai-based electric air taxi maker, signed a confirmed order with ABC Financial Leasing Co, a wholly owned subsidiary of Agricultural Bank of China (ABC), for 10 units of its electric vertical take-off and landing (eVTOL) aircraft, including options on a further 110 units. On delivery, the eVTOL aircraft are expected to be put into commercial leasing operations. With a total order value of CNY3 billion, the signing follows the company’s previously confirmed orders with China Southern Airlines General Aviation Co and Asian Express Aviation, which are believed to be the first confirmed orders for eVTOL aircraft worldwide. The new order demonstrates the confidence of the nation’s leading financial institutions in the commercialization of China’s low-altitude economy.
Since its establishment four years ago, Volant Aerotech has focused on the development of high-grade manned eVTOL aircraft. Its flagship product, the six-seat VE25-100 model named “Skylar”, features a composite wing configuration with a maximum take-off weight of 2,500 kilograms and a maximum payload capacity of 500 kg. Recognized as the world’s largest eVTOL aircraft by take-off weight with the most spacious cabin, it is currently in the process of obtaining airworthiness certification from the Civil Aviation Administration of China (CAAC), and is expected to obtain its Type Certificate by the end of next year.
“China has unique advantages for developing eVTOL aircraft and the low-altitude economy. We are seeing historic opportunities brought by diverse market demand, a unified national market and a complete supply chain fostered by the aerospace and new energy vehicle industries,” said Huang Xiaofei, Partner and Chief Strategy Officer (CSO) of the company. Dong Ming, the company’s CEO, added that the low-altitude economy can include various business forms of different sizes and levels. Among them, Volant Aerotech is eyeing the high-level commercial passenger transport sector, including freight and short-distance passenger transport, as well as emergency medical services. To date, Volant Aerotech has secured orders for over 1,500 units of its eVTOL aircraft, with a total order value exceeding CNY37.5 billion, the China Daily reports.
