AutoFlight and CATL sign a strategic investment and cooperation agreement worth hundreds of millions of dollars
- AutoFlight announced today an exclusive strategic investment and cooperation agreement with leading battery developer CATL (Contemporary Amperex Technology Co., Limited)
- CATL will invest hundreds of millions of dollars, becoming a strategic investor in the eVTOL pioneer
- AutoFlight’s founder and chairman, Tian Yu, along with CATL and investor Team Global, will collaborate to support AutoFlight’s development
SHANGHAI (3 August, 2024): AutoFlight and CATL today announced an exclusive strategic investment and cooperation agreement, valued in the hundreds of millions of dollars, bringing together pioneers in eVTOL (electric vertical take-off and landing) and battery technology in a unique partnership.
CATL’s exclusive strategic investment in AutoFlight underscores its strong recognition of its core competitiveness and the long-term development potential in the eVTOL field. As a global leader in battery technology and innovation, CATL holds a dominant position among new energy battery suppliers. Its deep R&D expertise, robust industrial foundation, and extensive industrial chain advantages will help AutoFlight achieve significant breakthroughs in the eVTOL sector.
AutoFlight will establish a long-term partnership with CATL, committing 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. Through this in-depth collaboration with CATL, AutoFlight will not only accelerate the development and application of eVTOL battery technology but also elevate the overall technical capabilities of eVTOL aircraft to new heights.
Following the completion of this financing, AutoFlight will remain committed to the in-depth research, development, and widespread application of eVTOL technology, with a focus on further enhancing the safety and reliability of air logistics and travel solutions. The company will expedite the R&D and airworthiness certification of its manned Prosperity passenger aircraft, while collaborating with leaders in the new energy sector to advance the R&D, commercialization, and market expansion of eVTOL technology, ultimately creating a more comprehensive and intelligent air travel solution.
About AutoFlight
AutoFlight, a global high-tech start-up dedicated to advancing electric aerial vehicles for logistics and urban air mobility solutions, has been at the forefront of innovations in the electric air-taxi landscape. Noteworthy recent achievements include setting world records for single battery charge flight distances (250.3km), carrying out a ground-breaking formation flight of three autonomous eVTOL aircraft, completing the world’s first inter-city eVTOL air-taxi flight from Shenzhen to Zhuhai in February 2024, achieving the first long-distance (123km) flight of a tonne-class eVTOL in the Middle East in May 2024, and in August 2024 flying a maiden flight over the Yangtze River presenting novel low-altitude travel and sightseeing applications.
AutoFlight’s CarryAll cargo aircraft obtained type certification (TC) in March 2024 from the CAAC, while the TC process for the passenger version, Prosperity, officially commenced in April 2024. To date, AutoFlight has completed more than 10,000 eVTOL flights. Backed by European tech holding company Team Global, founded by Lukasz Gadowski, AutoFlight stands as a key player in the development of eVTOL technology, boasting a diverse product range that includes large-scale logistics aircraft and passenger aerial vehicles. Their in-house development of essential components, including composite airframes, electric motors and controllers, and affordable avionics underscores their vertical integration and commitment to pushing the boundaries of urban air mobility.