Thai firm orders 500 Chinese eVTOLs in record intent deal

This file photo taken on June 16, 2023 shows an E20 electric vertical take-off-and-landing (eVTOL) aircraft of Shanghai TCab Technology Co., Ltd. in east China's Shanghai. [Photo/Xinhua]

A Thai company on Wednesday signed a 1.75-billion-U.S. dollar intent deal to purchase 500 electric vertical takeoff and landing (eVTOL) aircraft from a Chinese developer.

This deal between Thailand's leading property developer and infrastructure investor, Pan Pacific Company Limited, and Shanghai Volant Aerotech Co., Ltd. represents the largest single intent order to date in China's emerging eVTOL sector.

The two sides, together with China National Aero-technology International Engineering Corporation (CAIEC), signed a tripartite cooperation agreement at the International Advanced Air Mobility Expo, which kicked off on Wednesday in Shanghai. CAIEC will provide low-altitude infrastructure support for this collaboration effort.

The 500 ordered eVTOLs are VE25-100 models, commercially branded as Skylar. Featuring a compound wing configuration, each aircraft has a six-passenger capacity with an operational range of 200 to 400 km and a cruising speed of 235 km/h, according to the developer.

They are scheduled for delivery in batches after obtaining airworthiness certification from the Civil Aviation Administration of China -- with phased deployment across the Maldives, Southeast Asian countries, such as Thailand, and Africa for low-altitude passenger transport, aerial tourism and emergency rescue operations.

Just one week prior, Autocraft from the United Arab Emirates signed a memorandum of understanding with Chinese eVTOL maker Shanghai TCab Technology Co., Ltd. in Shanghai for purchasing 350 E20 eVTOL aircraft worth 1 billion U.S. dollars.