Battery Developer CATL Becomes Strategic Investor in AutoFlight, Will Invest Hundreds of Millions in eVTOL Tech
The exclusive strategic investment between AutoFlight and CATL is valued at hundreds of millions of dollars.
(Shanghai, China) Electric vertical take-off and landing (eVTOL) vehicle developer AutoFlight and battery developer CATL (Contemporary Amperex Technology Co., Limited) announced on Saturday, August 3rd, that they have signed an exclusive strategic investment and cooperation agreement by which CATL will invest hundreds of millions of dollars as an investor in AutoFlight.
Rendering of AutoFlight’s forthcoming Prosperity electric vertical take-off and landing (eVTOL) vehicle courtesy of AutoFlight.
Per today’s press release from AutoFlight, the long-term partnership between AutoFlight and CATL commits the companies to the joint research and development of eVTOL aviation batteries.
“By combining their respective resources and technical expertise, the two companies will focus on enhancing the energy density and performance of eVTOL batteries, aiming to support longer flight distances and higher load capacities, while also achieving significant improvements in safety and stability,” reads today’s press release.
Per Yicai Global, Gotion High-Tech, Farasis Energy, and other Chinese battery giants are also developing eVTOL aircraft batteries.
Following the completing of CATL’s financing, AutoFlight intends to expedite efforts related to research and development and airworthiness certification of its manned Prosperity eVTOL aircraft, in addition to collaborating with energy industry leaders to advance the R&D, commercialization and market expansion of eVTOL technology.
