EVTL - Hanwha Vertical Aerospace expand eVTOL aircraft partnership
2023-10-26 06:43:08 ET
- Hanwha Aerospace ( NYSE: EVTL ) Thursday said it has signed an agreement to collaborate on the design, testing, manufacture, and supply of tilt and blade pitch control system for Vertical's VX4 electric aircraft.
- Following the signing of a contract with Vertical last year for the development of EMA (Electro-Mechanical Actuation), Hanwha and Vertical expanded the scope of the agreement during the Seoul International Aerospace & Defense Exhibition (ADEX 2023).
- With the signing of the new agreement, Hanwha will now be responsible for all actuation systems of Vertical's VX4 four-passenger air taxi.
- EVTL -1.68% premarket to $1.17
- Source: Press Release
For further details see:
Hanwha, Vertical Aerospace expand eVTOL aircraft partnership