Canada's Horizon signs letter of intent to sell up to 100 hybrid-electric aircraft worth $600 million
HOVR•Aircraft details and development timeline
- As part of the arrangement, V-Star will purchase five Horizon Cavorite X7 aircraft, with the option to buy up to 95 additional VTOLs.
- Horizon said the Cavorite X7, a seven-seater aircraft, offers a range of up to 500 miles and is up to 75% cheaper to operate than a helicopter.
- The Canadian company, along with Britain's Vertical Aerospace, is among the few VTOL manufacturers pursuing hybrid-electric aircraft.
- Horizon intends to develop its first full-scale prototype and begin initial testing in the first quarter of 2027. These aircraft are expected to be commercialized by 2028 or 2029.
- The company has previously signed letters of intent with Chilean helicopter operator Discovery Air Chile to lease five aircraft and with India's JetSetGo to buy up to 100 aircraft.
- The Cavorite X7 will be powered by Pratt & Whitney PT6A engines, while RAMPF Composite Solutions is expected to build its fuselage.
Horizon signs V-Star letter of intent for up to 100 aircraft
Canada's Horizon Aircraft said on Tuesday that Australia's V-Star Powered Lift Aviation had signed a letter of intent to buy up to 100 of its hybrid-electric vertical takeoff and landing (VTOL) aircraft for $600 million.
VTOLs have been touted as an alternative mode of transport in congested cities, where they could be used as air taxis and air ambulances.
