• 31 Aug 2024 06:16 AM
• 0

Aerofugia Flies High, Secures Funding

China eVTOL News (a Stubstack.com news feed) reported on July 1 that Chengdu, Sichuan, China-based Aerofugia had completed a Series B financing round of “hundreds of millions of yuan” (equal to tens of millions of US dollars), its third funding round to date. “The funds will primarily support the research, development, and commercialization of Aerofugia’s self-developed AE200 eVTOL aircraft, aiming to expedite urban air transportation deployment and advance low-altitude economy development,” the news site stated. Aerofugia is a subsidiary of Chinese automotive giant Geely (and launched after the acquisition and absorption of US flying car company Terrafugia). The company gave a public flight demonstration of the AE200 in June (shown) and stated that it had completed “second-stage” flight testing, including “passing all required tests for full-size, full-weight, and fullenvelope tilting transition, marking a significant step toward commercialization.”