Mentioned:
Horizon Aircraft has big ambitions for their hybrid-electric vertical takeoff and landing aircraft. And now, they've just landed their largest potential purchase commitment yet.
What’s happening:
- Horizon Aircraft (NASDAQ: HOVR) has entered into a letter of intent with Australian based V-Star Powered Lift Aviation to sell them up to 100 of Horizon Aircraft’s Cavorite X7 hybrid-electric vertical takeoff and landing aircraft
By the numbers:
- The new deal between V-Star Powered Lift Aviation and Horizon Aircraft could be worth up to a total of $600M USD
Why it matters:
- This is the single largest letter of intent Horizon Aircraft has ever signed for their hybrid-electric vertical takeoff and landing aircraft
Going deeper:
- V-Star Powered Lift Aviation has agreed to purchase 5 of Horizon Aircraft’s Cavorite X7 hybrid-electric vertical takeoff and landing aircraft as part of the new deal and has the option to purchase up to 95 more
- Horizon Aircraft has publicly stated they their Cavorite X7 hybrid-electric vertical takeoff and landing aircraft is capable of cruising at up to 290 miles per hour with a range of 575 miles and carrying up to 1,500 pounds of total cargo
The fine print:
- Horizon Aircraft is not yet currently producing their Cavorite X7 hybrid-electric vertical takeoff and landing aircraft at commercial scale
