On August 1, AutoFlight's 2-ton electric vertical take-off and landing (eVTOL) aircraft achieved a historic milestone by completing its inaugural cross-Yangtze River flight. The journey commenced at the Nanjing unmanned aerial vehicle (UAV) base in Pukou District, where the aircraft took off, navigated across the Yangtze River, flew along its course, and safely returned to the base. This flight, covering 25 kilometers in just 10 minutes, marked the first successful cross-Yangtze River journey by an eVTOL weighing over one ton. It highlighted the potential for low-altitude travel and cultural tourism in Nanjing.
As a significant transportation hub on the Yangtze River, Nanjing stands as one of China's foremost economic centers. Despite numerous bridges connecting the city's two sides, the Yangtze River remains a natural barrier, affecting cross-river travel. For example, the 5.5-kilometer straight-line distance between Nanjing UAV Base and Yuzui Wetland Park requires a 20-kilometer drive, which takes approximately 25 minutes. However, an eVTOL aircraft can cover this distance in just 5 minutes, reducing travel time by 80%.
Nanjing, a city known for its historical significance as the ancient capital of the Six Dynasties, offers stunning scenic spots but also faces traffic congestion challenges. During holidays, delays around popular attractions can cause travel times to increase tenfold. The introduction of eVTOL aircraft presents a promising solution by alleviating road congestion and providing tourists with unique aerial views of the historic city. This innovation enhances both convenience and the sightseeing experience.
With 29 central cities along the Yangtze River, many areas remain challenging to access. eVTOL cross-river flights offer an efficient and convenient travel solution, transforming the Yangtze River from a natural barrier into a thoroughfare. AutoFlight's Prosperity aircraft, equipped with a pure electric propulsion system, boasts a maximum take-off weight of 2,200 kilograms and a five-seat cabin design. Its 'lift and cruise' wing configuration enables vertical take-off, akin to a multi-rotor aircraft or helicopter. In flight mode, it transitions to fixed-wing flight for horizontal cruising. This versatility in take-off and landing, combined with its efficiency, convenience, and environmental safety, positions the Prosperity as an ideal choice for air-taxi services. The eVTOL aircraft aims to facilitate point-to-point air travel within cities and intercity areas, with pricing ambitions comparable to ground-based car services.
Following this momentous flight, AutoFlight and Contemporary Amperex Technology Co., Limited (CATL) have announced an exclusive strategic investment and cooperation agreement valued in the hundreds of millions of dollars. This partnership unites pioneers in eVTOL and battery technology, signaling a significant advancement in the sector.
CATL's investment in AutoFlight underscores its recognition of the company's core competitiveness and long-term potential in the eVTOL field. As a global leader in battery technology and innovation, CATL brings extensive research and development expertise, a robust industrial foundation, and extensive industrial chain advantages to the partnership.
AutoFlight and CATL will collaborate on joint research and development of eVTOL aviation batteries, focusing on enhancing energy density and performance. The goal is to support longer flight distances and higher load capacities while achieving significant improvements in safety and stability. This collaboration will accelerate the development and application of eVTOL battery technology, elevating the overall technical capabilities of eVTOL aircraft to new heights.
With the completion of this financing, AutoFlight remains dedicated to the research, development, and widespread application of eVTOL technology. The company will focus on enhancing the safety and reliability of air logistics and travel solutions. Efforts will be directed toward the R&D and airworthiness certification of the Prosperity passenger aircraft. Additionally, AutoFlight will collaborate with leaders in the new energy sector to advance the commercialization and market expansion of eVTOL technology, ultimately creating a more comprehensive and intelligent air travel solution.
