Asian Express Aviation Orders 50 of TCab Tech’s eVTOLs
China’s Asian Express Aviation Group signed a Memorandum of Understanding (MoU) on February 17 with…
China’s Asian Express Aviation Group signed a Memorandum of Understanding (MoU) on February 17 with Chinese eVTOL company TCab Tech, ordering 50 E20 eVTOL aircraft for its existing aerial sightseeing and short-range transport offerings.
Asian Express Aviation, as it moves to expand its low-altitude tourism markets, said the decision was made due to a cheaper price, low maintenance costs and lower noise of eVTOLs compared with helicopters.
TCab Tech’s E20 can fly between 30-150 km with a cruising speed of 260 km/h and a maximum cruising speed of 320km/h.
The two companies also discussed the possibility of Asian Express Aviation Group in becoming the MRO service provider for the E20 in China.
TCab Tech has just completed the Pre-A Financing of 100 million yuan (about US$14.8 million) earlier in February. The financing was led by Grand Flight, followed by Kunlun Capital, KIP Capital and the existing shareholders BlueRun Ventures and Decent Capital, the family office founded by one of Tencent’s co-founders, Jason Zeng in 2007.
Asian Express Aviation Group, China’s aviation industry group, provides short-distance transportation, aerial photography and surveillance, and low-altitude consumer transportation services. It has a fleet of more than thirty Pilatus aircraft.
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