Avolon, an aircraft leasing company, and Vertical Aerospace, an electric vertical take-off and landing (eVTOL) aircraft company, have announced a $ 2 billion contract. It provides for the supply of up to 500 eVTOL Vertical VA-X4. This is the largest order of its kind in the world.
According to the parties, the agreement, which includes certain conditions, introduces the category of ultra-small flights into commercial aviation, which “will change the rules of the game and revolutionize air travel using zero-emission aircraft.”
The agreement will combine Avolon’s scale and industry ties with Vertical’s leadership in eVTOL technology. Avolon will join Microsoft, Rolls-Royce, Honeywell and American Airlines as an investor in Vertical, and will partner with Virgin Atlantic to become the first VA-X4 user in Europe.
To implement the agreement, a subsidiary company Avolon-e was created. Provided that the VA-X4 aircraft meet the requirements for them, it will purchase a batch of these aircraft in the amount of $ 1.25 billion with delivery at the end of 2024, while retaining the possibility of acquiring additional quantities of up to $ 750 million.
The VA-X4 is a manned electric vertical takeoff and landing aircraft. It can fly at speeds in excess of 320 km / h, carrying up to four passengers and a pilot over distances of over 160 km. Vertical take-off and landing make the aircraft well suited for urban use. In terms of noise level, it is 100 times quieter than a similar helicopter. In addition, eVTOL is said to be safer than a helicopter.
Avolon, headquartered in Ireland with offices in the United States, Dubai, Singapore, Hong Kong and Shanghai, is the third largest aircraft leasing business in the world. It owns and operates 840 aircraft.
TrendForce predicts NEV sales to reach 4.35 million units in 2021
As the electrification of the global auto market picks up and governments continue to stimulate demand with subsidies, sales of...
TrendForce Analysts Called Factor That Will Limit Future Growth of AMOLED Panel Market
According to the latest research by TrendForce, due to the wider adoption of AMOLED panels by major smartphone brands including...
ASRock DeskMini Max Concept Computer Housed in 10L Chassis
ASRock has announced a 10 liter concept PC called DeskMini Max. An AMD-based computer can be configured with processors with...
Microsoft began to massively automatically update PCs to the latest version of Windows 10
Microsoft has begun a new phase in the distribution of its most recent version of the Windows 10 operating system....
The flagship Xiaomi Mi 11 and some other Xiaomi and Redmi smartphones have problems with the touchscreen
Several newer Xiaomi smartphones are experiencing similar touchscreen issues. The situation was noticed in the mobile community of XDA Developers....
Electronic Arts buys game developer Playdemic for $ 1.4 billion
Electronic Arts (EA), AT&T and Warner Media have announced a deal that will bring EA the new owner of Playdemic,...
Date of announcement and price of iPhone 13
Chinese sources have published information on the date of the announcement of the iPhone 13 series smartphones, the timing of...
Qualcomm took 70% of 5G baseband market in Q1 2021
According to Strategy Analytics’ calculations for the first quarter of 2021, the baseband processor market grew 27% year over year...
- News7 days ago
Microsoft has chosen a new chairman of the board of directors: it was the CEO Satya Nadella
- Gaming6 days ago
The vice president of Microsoft-owned Bethesda has apologized to PlayStation fans. Due to the exclusivity of new games
- Gaming7 days ago
Xbox One Owners Don’t Need To Buy Xbox Series X / S: New Games Will Run On An Eight Year Old Console
- Electric Cars7 days ago
Mazda plans to launch 13 electrified car models by 2025
- News4 days ago
Japan has found a way to reduce the cost of “green” hydrogen by two-thirds
- News6 days ago
SpaceX reuses Falcon 9 rocket for the first time to launch a US military satellite
- News4 days ago
Despite throttling, AMD GPU in Exynos 2200 outperforms latest GPU Mali
- Phones3 days ago
Apple iPhone will be made entirely from recyclable materials