Hindustan Aeronautics Limited (<keyword id="19997265" type="General" weightage="20" keywordseo="HAL" source="keywords" meta.keywordsubtype="org" meta.entityname="HAL" meta.hostid="83" meta.entityid="HAL">HAL</keyword>) and <keyword id="22976652" type="General" weightage="20" keywordseo="Safhal" source="keywords">SAFHAL</keyword> <keyword id="22976651" type="General" weightage="20" keywordseo="helicopter-engines" source="keywords">Helicopter Engines</keyword> Pvt. Ltd. (SAFHAL) have signed an airframer contract, to commence joint design, development, manufacture, and supply and support of a new generation high-power engine named 'Aravalli'. The 'Aravalli' high-power engines are used for the 13-ton Medium Lift class, the Indian Multi-Role Helicopter (<keyword id="22979205" type="General" weightage="20" keywordseo="IMRH" source="keywords">IMRH</keyword>) and the Deck-Based Multi-Role Helicopter (<keyword id="22979206" type="General" weightage="20" keywordseo="DBMRH" source="keywords">DBMRH</keyword>), being designed and developed by HAL. The contract was signed by S Anbuvelan, CEO (Helicopter Complex), HAL and Olivier Savin, Director, SAFHAL Helicopter Engines and EVP, Sales and Marketing, <keyword id="22976653" type="General" weightage="20" keywordseo="Safran-Helicopter-Engines" source="keywords" meta.keywordsubtype="org" meta.entityname="Safran Helicopter Engines" meta.hostid="83" meta.entityid="Safran Helicopter Engines">Safran Helicopter Engines</keyword> and SK Mehta, Director, SAFHAL Helicopter Engines and Executive Director (Finance), HAL. Speaking on occasion, CB Ananthakrishnan, Chairman and Managing Director (Additional Charge), HAL said, "This partnership with SAFHAL marks a pivotal moment in our journey towards achieving technological self-reliance in India's aerospace and defence sector." He further said that the collaboration will ensure the operational capabilities of the IMRH and DBMRH platforms and contribute to the broader goal of indigenous development of critical <keyword id="20825438" type="General" weightage="20" keywordseo="defence-technologies" source="keywords">defence technologies</keyword>. Cedric Goubet, CEO of Safran Helicopter Engines stressed that the combined expertise and resources will ensure the success of the IMRH and DBMRH programs while contributing to the growth of India's aerospace and defence sector. "We are extremely proud to collaborate with HAL on this strategic project, capitalizing on 25 years of successful partnership between Safran and HAL. With this project, we are enriching the collaboration with HAL and the strategic relationship between India and France," Cedric Goubet said. Together we remain fully dedicated to our customers in India. We look forward to designing, producing and supporting those new efficient helicopter engines," he added. SAFHAL, a joint venture between Safran Helicopter Engines SAS and HAL, is dedicated to the design, development, production, sales and support of new-generation helicopter engines in India, marks a significant milestone in India's aerospace and defence sector, aiming to enhance the nation's Aatmanirbharta in helicopter engine technology. Under this strategic contract, SAFHAL will work with its parent companies on cutting-edge engine technologies, ensuring superior performance, reliability, and operational efficiency. This collaboration involves state-of-the-art design, advanced manufacturing processes and rigorous testing protocols to meet the highest global standards. Safran Helicopter Engines has been HAL's partner of choice for powering its helicopters, starting with the Artouste engines used in Cheetah and Chetak, followed by the Shakti engine and its variants powering the ALH, LCH and LUH. The present collaboration elevates this relationship to the next level through the joint design and development of modern state-of-the-art helicopter engines intended for application in Medium Lift Helicopters. IMRH is a new 13-ton multi-role helicopter designed by HAL to meet the requirements of the Indian Armed Forces. A naval version, the 12.5-ton DBMRH is also being developed for the Indian Navy. The engines will be designed to operate in diverse and challenging environments in which these helicopters get deployed. Future extension to the civil market for offshore operations, utility, VVIP transport etc., is also planned followed by MRO activities.

HAL partners with SAFHAL to develop and manufacture 'Aravalli' helicopter engines

New Delhi [<keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword>], July 15 (ANI): Amid increasing cooperation in the defence sector between the two nations, India is setting up a technical office of the DRDO (<keyword id="152819" type="General" weightage="50" keywordseo="defence-research-and-development-organisation" source="Orion">Defence Research and Development Organisation</keyword>) at its embassy in Paris, according to the India-France joint statement on Friday. France is one of India's most important allies in building a self-sufficient defence industrial and technological foundation, the statement informed, adding that the co-development and co-production of cutting-edge defence technologies for the benefit of third nations is a joint commitment of India and France. To this end, both countries are also working towards adopting a Roadmap on Defence Industrial Cooperation, it added. It noted further that Prime Minister Narendra Modi's two-day official visit to France, during which he attended the Bastille Day Parade as the Guest of Honour, the two countries welcomed the timely delivery of the 36 Rafale ordered by India. "In line with their outstanding cooperation in military aviation spanning over five decades, India and France welcome the timely delivery of the 36 Rafale ordered by India. In the future, India and France will extend their ground-breaking defence cooperation in advanced aeronautical technologies by supporting the joint development of a combat aircraft engine. (A roadmap on this project will be prepared between <keyword id="412278" type="General" weightage="100" keywordseo="safran" source="Orion">Safran</keyword> and DRDO before the end of this year)," the India-France joint communique read. The two leaders stood in support of Safran Helicopter Engine's (France) industrial cooperation for the motorisation of heavy-lift helicopters under the Indian Multi-Role Helicopter [IMRH] programme. A shareholders' agreement for engine development was reached between <keyword id="86569" type="General" weightage="50" keywordseo="hindustan-aeronautics-limited" source="Orion">Hindustan Aeronautics Limited</keyword> (<keyword id="68124" type="General" weightage="50" keywordseo="hal" source="Orion">HAL</keyword>), India, and Safran Helicopter Engine, France, to facilitate the advancement of the IMRH programme, it added. Moreover, India and France hailed the success of the first Scorpene submarine construction programme (P75 - Kalvari), a model of Make in India and the sharing of naval expertise between companies in the two countries, it added. The two countries also welcomed the MoU between Mazgon Dockyard Ltd and Naval Group for constructing three additional submarines under the P75 programme. India and France are ready to explore more ambitious projects to develop the Indian submarine fleet and its performance, the statement noted further. The agreement between Safran Helicopter Engine and HAL for the Transfer of Technology of Forging and Castings for the Shakti Engine is another illustration of this military-industry relationship built on mutual trust between the two countries, the joint statement said, adding that "this reflects the French government's dedication to encouraging technology transfer and Make in India". PM Modi attended the Bastille Day Parade on France's National Day, on Friday, as the Guest of Honour at the invitation of President Macron. The majestic parade, which featured contingents from the Indian armed forces, took place under bright and sunny skies at Champs-Elysees in Paris. This year also marks the 25th anniversary of the strategic partnership between the two countries. (ANI)

India to set up technical office of DRDO at its Paris embassy, announces India-France joint statement

Bengaluru, The <keyword id="6355100" type="COMPANY" weightage="20" keywordseo="Indian-Navy">Indian Navy</keyword> has received three "made in <keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword>" <keyword id="6706498" type="ORGANIZATION" weightage="20" keywordseo="Advanced-Light-Helicopters">advanced light helicopters</keyword>, customised for coastal security, from the <keyword id="86569" type="COMPANY" weightage="20" keywordseo="Hindustan-Aeronautics-Limited">Hindustan Aeronautics Limited</keyword> (HAL) on Friday. The Mark-III Advanced Light Helicopter (ALH) is meant for coastal security. Out of the 16 Mk-III helicopters, HAL delivered three to Indian <keyword id="42407" type="COMPANY" weightage="20" keywordseo="Navy">Navy</keyword> Chief Admiral Karambir Singh at Aero India. The helicopters are fully loaded multi mission helicopter is fitted with an array of advanced sensors. This will augment the Navy's responsibility for coastal security placed on it by the government after 26/11 Mumbai terror attacks that claimed the lives of 166 people and left 300 others injured. The helicopter features a full glass cockpit with HAL's Integrated Architecture Display System (IADS), more powerful "Shakti" (Safran Ardiden 1H1) <keyword id="240487" type="DOMAIN" weightage="20" keywordseo="engines">engines</keyword>, and a host of new systems. The Indian Navy had ordered 16 Mk-III to supplement its ageing and depleting fleet of Alouettes (Chetaks) - from HAL. These helicopters have come up with latest-generation avionics and role equipment. It is primarily meant for use in a shore-based role. The Mk-III ALH are also equipped with an indigenous low frequency dunking sonar (LFDS) developed by Kochi-based Naval Physical and Oceanographic Laboratory. The sonar's units are being produced by state-owned <keyword id="91484" type="COMPANY" weightage="20" keywordseo="Bharat-Electronics-Limited">Bharat Electronics Limited</keyword> with a host of sub-vendors downstream. The aircraft has also a nose-mounted surveillance radar with 270-degree coverage that can detect, classify and track multiple marine targets. It also has synthetic-aperture radar, inverse synthetic-aperture radar, and moving target indication classification functions. SEE ALSO: <a href="https://www.businessinsider.in/policy/economy/news/how-big-is-indias-debt-and-should-it-be-a-worry/articleshow/80688623.cms">How big is India's debt and should it be a worry?</a> <a href="https://www.businessinsider.in/stock-market/news/heres-why-you-arent-being-able-to-apply-for-brookfield-reit-ipo-through-zerodha-groww-angel-broking-and-other-stockbroking-apps/articleshow/80686457.cms">Here's why you aren't being able to apply for Brookfield REIT IPO through Zerodha, Groww and other stockbroking apps</a>

Indian Navy receives three Advanced Light Helicopters from Hindustan Aeronautics Limited

Prime Minister <keyword id="19895781" type="General" weightage="20" keywordseo="Narendra-Modi" source="keywords">Narendra Modi</keyword> and <keyword id="19901464" type="General" weightage="20" keywordseo="French-President-Emmanuel-Macron" source="keywords">French President Emmanuel Macron</keyword> agreed to further intensify <keyword id="22062767" type="General" weightage="20" keywordseo="strategic-defence-cooperation" source="keywords">strategic defence cooperation</keyword> with an increased focus on '<keyword id="20018809" type="General" weightage="20" keywordseo="Make-in-India" source="keywords">Make in India</keyword>' when both leaders met on the sidelines of the G7 Summit held in Italy. "They (both the leaders) agreed to further intensify strategic defence cooperation with an increased focus on 'Make in India'," a short statement from the Prime Minister's Office said. At the invitation of Prime Minister Meloni, PM Modi travelled to the Apulia region in Italy to participate in the G7 Outreach Summit earlier this week. This was his first overseas visit since assuming office for the third consecutive term. France is one of India's key partners in the development of a self-reliant defence industrial and technological base. India and France are committed to cooperating in the co-development and co-production of advanced defence technologies, including for the benefit of third countries. Several defence companies, in both countries, are currently working on various initiatives, including cooperation for the motorization of heavy-lift helicopters under the Indian Multi-Role Helicopter [IMRH] programme with Safran Helicopter Engine, France. A shareholder's agreement between Hindustan Aeronautics Limited (HAL), India and Safran Helicopter Engine, France, has been concluded for engine development. Safran Helicopter Engine and HAL collaborated on the transfer of technology of forging and casting for the Shakti Engine. This is also reflective of the French commitment to support technology transfer and the Make in India initiative. Another such example is the MoU between Garden Reach Shipbuilders and Engineers Ltd. (GRSE), and Naval Group France, a leader in the European Naval Defence Industry, to collaborate in the field of surface ships that cater to the requirements of India and International Naval forces. India is investing heavily in defence and aerospace manufacturing, with several defence hubs being set up. Indian defence PSUs have benefited, besides the companies in the private sector, as they have accumulated tremendously high returns on equities in the past few years, benefiting from the new orders. Notably, many global companies have either shared or shown intent to share critical defence and aerospace knowledge with India. This April, Chief of Defence Staff General Anil Chauhan visited France, further reinforcing the bilateral defence cooperation between the two nations. The interactions of CDS with Patrick Pailloux, Director of Civil and Military Cabinet of the Minister of the French Armed Forces, and Lt Gen Vincent Giraud, Chief of Military Cabinet of the Minister of the Armed Forces at the apex level and also with his counterpart, General Thierry Burkhard have enabled the exchange of views on areas of common interest and mutual security concerns. Deliberations on enhancing the exchange of high-end dual-use technologies, besides discussions with the top leadership of the French Defence industry, including Dassault, Safran and Naval Groups, and Thales Alenia Space, towards futuristic capacity building of the Indian Armed Forces, are expected to provide an impetus to indigenization. India and France had decided to deepen their cooperation in all areas of the space sector by strengthening their programmes of common interest. The India-France Strategic Partnership has gathered significant momentum over time and has now evolved into an even closer and more multifaceted relationship that spans diverse areas of cooperation. In 1998, the two countries upgraded their partnership to a strategic level. To mark the 25th anniversary of the Indo-French partnership, both countries agreed in July 2023 to adopt a roadmap to set the course for the bilateral relationship up to 2047, which will celebrate the centenary of India's independence, the centenary of diplomatic relations between the two countries and 50 years of the strategic partnership. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/tata-group-reportedly-looking-to-acquire-a-majority-stake-in-vivo-india/articleshow/110987274.cms">Tata Group reportedly looking to acquire a majority stake in Vivo India</a> <a href="https://www.businessinsider.in/sports/webstories/kkr-beats-mi-in-terms-of-brand-value-csk-and-rcb-continue-to-lead/slidelist/110963926.cms">KKR beats MI in terms of brand value, CSK and RCB continue to lead</a> <a href="https://www.businessinsider.in/tech/news/elon-musk-hits-out-at-apples-partnership-with-openai-threatens-to-ban-apple-devices/articleshow/110902477.cms">Elon Musk hits out at Apple’s partnership with OpenAI, threatens to ban Apple devices</a>

Modi, Macron bilateral emphasises furthering India-France defence cooperation; focus on indigenous mfg

<ul><li>The French defence deal gives a boost to HAL, but the opportunity is yet to be visible for Mazagon Dock.</li><li>HAL’s already-developed products have an order pipeline of around $48 billion over 10 years, says PhillipCapital.</li><li>The deal for submarines which can benefit Mazagon Dock needs more clarity, says ICICI Securities. </li></ul>Indian defence sector stocks have been on a bull run in the last few months with Hindustan Aeronautics (HAL) and Mazagon Dock Shipbuilders turning multibaggers. Both these stocks received another big boost from the defence agreements signed by India and France, as part of Prime Minister Narendra Modi’s two-day visit to the European nation for Bastille Day. Apart from the procurement of Rafale jets, the agreements covered co-operation on the joint development of high-thrust engines for Advanced Medium Combat Aircraft (AMCA) and joint development of turboshaft engines for Indian Multi-Role Helicopter (IMRH). HAL: Up in the air To action the deal, French company Safran and HAL will form a joint venture (JV) company to co-design and produce new generation helicopter engines in India. “The first objective is to build the most adequate solution for the future 13-ton IMRH and its naval version Deck Based Multi-Role Helicopter (DBMRH),” said a report by ICICI Securities. In addition, the French defence deal includes a transfer of technology to HAL, for forging and casting for Shakti engine, which powers almost the entire indigenous helicopter fleet of India including ALH Dhruv, Rudra, light combat helicopters (LCH) and Light Utility Helicopter (LUH). As per ICICI Securities, these developments enable the execution of critical orders of 140 AMCAs, 175 LUHs and 145 LCHs, which the company is expecting to get in the medium term. Thanks to the positive fallouts from the French agreements and a deal signed with GE earlier in June – for F-414 engines and co-development of high-thrust engines for AMCA – HAL’s stock has a long run-up ahead. “We believe there is a possibility of ramp up in manufacturing revenue for HAL beyond FY26. As a result, we raise our manufacturing revenue growth estimates to 12% (from 8% earlier) beyond FY26,” says ICICI Securities. India’s ageing defence fleet also provides the public sector company with many more opportunities ahead. HAL has an order pipeline of $48 billion spread over the next ten years – for products that it has already developed like LCA Tejas, a supersonic combat aircraft. “The company also benefits from the repair and overhaul programme, which heavily depends on the Sukhoi aircraft fleet, the ALH (advanced light helicopter) fleet, and the recently introduced Hawk aircraft, along with upgrades to the Jaguar and Mirage platforms,” said a report by PhillipCapital. PhillipCapital has placed a target price of ₹3,975 on HAL stock with a neutral rating, but ICICI Securities revised its target price upwards to ₹4,350 after factoring in the latest French deal advantage. The stock is currently trading at ₹3,857. Mazagon Dock Shipbuilders: The submarine opportunity not visible yet Investments in Mazagon Dock Shipbuilders (MDSL) shares have shot up 6.5 times in the last one year. Like HAL, this Mumbai-based company has a reason to gain from the France deal as it includes ambitious projects to explore the development of the Indian submarine fleet. The Defence Acquisition Council (DAC), led by Defence Minister Rajnath Singh, approved the proposal to acquire three French-designed Scorpene-class submarines. These submarines will be constructed by MDSL While the acceptance of necessity (AoN) has been granted, there was no specific mention of three Scorpene submarines in the joint statement issued by PM Modi and French President Emmanuel Macron. An AoN is accorded by the Defence Ministry for a particular weapon system or equipment at the beginning of the procurement process. “Currently, we do not have clarity on the ordering timeline for the new Scorpene submarines. We would keep a tab on further development in this regard. In our view, the actual construction work on the submarine might commence around 18 months after the contract has been signed,” said ICICI Securities. The brokerage has maintained a ‘sell’ rating on the stock with an unchanged target price of ₹600. MDSL is currently trading at ₹1,728. Apart from the possible deal, the company, which has a competitive edge in the sector, has a major overhang. It’s involved in a rent lease disagreement with Mumbai Port Trust, which has raised a demand from the company for four of its plots after finalising its land lease policy. It has sought as much as ₹272 crore plus applicable taxes as upfront payment towards the lease premium and ₹40 crore plus applicable taxes towards the arrears of rent FY06 onwards. MDSL has contested Mumbai Port Trust’s proposal and has recognised an estimated reasonable lease rent in its financial statements. The matter is under discussion at the ministry level between the Department of Defence Production and the Ministry of Ports, Shipping and Waterways. SEE ALSO <a href="https://www.businessinsider.in/india/news/few-indians-are-giving-up-on-tomatoes-despite-red-hot-prices-subsidies-arent-helping-much-shows-survey/articleshow/101920571.cms">Few Indians are giving up on tomatoes despite red hot prices, subsidies aren’t helping much, shows survey</a> <a href="https://www.businessinsider.in/business/corporates/news/wipros-first-quarter-show-points-to-multiple-battles-ahead/articleshow/101753530.cms">Wipro's first quarter show points to multiple battles ahead</a>

The French connection: HAL has most to gain; submarines yet to surface for Mazagon Dock

<ul class="summary-list"><li>Flying-taxi companies hope to revolutionize the daily commute for the cost of an Uber.</li><li>Competition led to one lawsuit before it was settled and Archer and Wisk agreed to work together.</li><li>Nature inspires many of the futuristic designs, Frank Stephenson told BI.</li></ul>Picture the scene: It's rush hour and you're running late for a meeting on the other side of town. If you're in a city with good public transportation, you could pile onto a busy metro train or you could get in a car or taxi and slog through traffic.In a few years, if everything goes according to plan, you might be able to open an app to hail a non-polluting aircraft and avoid the ground congestion altogether.This is the vision for Archer Aviation, one of several companies building electric vertical-takeoff-and-landing aircraft, better known as eVTOLs or flying taxis.It shouldn't cost much more than an Uber, either. Adam Goldstein, the CEO of Archer, previously told Business Insider he expects a seat in its six-passenger <a target="_blank" href="https://www.businessinsider.com/united-electric-air-taxi-archer-evtol-2023-6">Midnight aircraft</a> to cost about $100.An <a target="_blank" href="https://www.uber.com/global/en/r/routes/manhattan-ny-to-ewr/">Uber from Manhattan to Newark Airport</a> costs $85 for a 40-minute drive. Archer says its Midnight flying taxi would need 10 minutes for the same journey, which the company plans to make its first commercial service in 2025.BI attended the Dubai Airshow last month, where Goldstein started the sustainability conference with a speech about the company's ambitions."The transportation grid is still stuck in two dimensions. There's lots of trips out there where people are willing to spend 60, 90, or even 120 minutes in a car," he said. "Now we can solve these trips by going to the air."Helicopters are the main alternative today, but they're expensive and many cities have banned their mass use due to noise complaints. Goldstein said that Archer's Midnight is "near silent when flying overhead."Volocopter, a German startup set to bring its flying taxis to <a target="_blank" href="https://www.businessinsider.com/saudi-arabia-neom-project-green-city-fossil-fuels-oil-2023-12">Saudi Arabia's planned megacity Neom</a>, hopes to run its first service during next summer's Paris Olympics.Most other eVTOL firms, including Archer, are targeting certification by 2025. Goldstein said Archer wants to start mass operations in 2028, when "hundreds" of flying taxis would operate in one city as Los Angeles transportation officials plan for their use during that year's Olympics.<h2>Why the flying-taxi designs look unique</h2>Frank Stephenson got his start designing cars. After Ford sponsored his design education, he worked for the company in Cologne, Germany. He also designed the Mini Cooper and the Fiat 500 and worked as a design director for Ferrari, Maserati, and McLaren.His enthusiasm for aircraft was infectious as he spoke to BI at the Dubai Airshow. Midway through a sentence, the Italian Air Force's aerobatics team roaring overhead through plumes of red, white, and green smoke diverted his attention.At first, pivoting to aviation might seem like a curious move, but for Stephenson, it made perfect sense."I think from as far back as I can remember, as a kid even, I was just interested in anything that moved," Stephenson told BI.After leaving McLaren, Stephenson started his own design studio where his first client was Lilium Air Mobility.<div type="image" title="A model of a eVTOL Lilium Jet, electric vertical take-off and landing jet is displayed during the Farnborough International Airshow 2022 on July 18, 2022" height="2336" width="3500" msid="106100926" hostid="261"></div>These sleek, modern aircraft often appear as if they were plucked from the set of "Blade Runner," but for Stephenson, "everything I design is based on influences from nature.""There's nothing more intelligent than nature in design," he told BI. "Who the heck says it has to look like an airplace anyways, because what's an airplane? It's a sausage with wings on it."For Lilium, he was first inspired by the sea, because "a fish is theoretically more aerodynamic than a bird.""The engineers were like, 'Oh my gosh, we've never thought about doing it like this before. And it works really well.' So that world opened up to me. It's like the first days of the automobile."<h2>United Airlines has ordered $1 billion's worth of Archer's Midnight craft</h2>"Once you can start replacing work-and-going-home trips with this aircraft, it's beyond my wildest imagination how you change where people live and work, and how much you can really impact mobility going forward," Nikhil Goel, Archer's chief commercial officer, told BI."Sustainability is big, but it's also just sexy," he added. "It's a really great way to get from A to B."Goel, a former McKinsey consultant who cofounded <a target="_blank" href="https://www.businessinsider.com/joby-aviation-to-acquire-uber-elevate-wins-75-million-investment-2020-12">Uber Elevate</a> before joining Archer, has the polished air of a Silicon Valley executive."The best-case scenario is probably still more than I would expect," he said. "I always say that if you'd asked Steve Jobs, 'How many iPhones would you sell in 2023?' He would have predicted probably a tenth of what we have today."So best-case scenario, I don't know, everybody in the world is able to use this to go from A to B."<div type="image" title="Nikhil Goel of Archer smiling wearing a grey suit and cyan tie stood in front of the Midnight eVTOL at the Dubai Air Show" height="3200" width="4800" msid="106100927" hostid="261"></div>There's still a lot to get through first. After aviation authorities certify them, eVTOL companies would need to scale up manufacturing. Then comes the infrastructure: building enough vertiports — eVTOL takeoff facilities — for mass use.Vertiports are similar to helipads but include recharging and hangaring options.But the money involved suggests that airlines believe there's promise. American Airlines, United Airlines, and Azul Brazilian Airlines have each made $1 billion deals with Vertical Aerospace, Archer, and Lilium, respectively.Goldstein said United's order with Archer has a further $500 million option, which would bring the total up to 300 aircraft."We are working with the best manufacturing suppliers in the game — Honeywell, Safran, Garmin, FACC — so we think from a certification perspective, we've nearly eliminated all the risks," Goel said.He added that the biggest priority for the coming year is the "final stages of certification."Archer has also started building its main manufacturing plant in Georgia, where it will work with the auto giant Stellantis to produce up to 2,300 aircraft a year. Archer added that the factory will be capable of producing 650 vehicles a year when it starts its first phase of operations in 2024."Already on day one, it will be less than half the cost of a helicopter," Goel told BI. Helicopters cost about $10 per passenger mile, whereas Goel said the Midnight will cost about $4 to $5 per passenger mile.He said it's cheaper because there's "very little maintenance cost" and "it's 100% all electric so there's no fuel cost.""As we increase the utilization and load factor, the aircraft will be at $2 to $3," he added. "And then from there, you add in autonomy, scale manufacturing, our long-term goal is to get about $1."<h2>Self-flying taxis</h2>Not every eVTOL company is prioritizing passenger transportation. AutoFlight, a Chinese startup with offices in Germany and California, is first targeting certification for its cargo eVTOL."Developing an aircraft is a really expensive adventure, and we believe the cargo version will be much quicker to certify, and produce and sell, and generate revenues," Jocelyn Moreau, AutoFlight Europe's head of operations, told BI."What we see here at the Dubai Airshow, and at the Paris Air Show, is that there will be a high demand for cargo as well as for passengers," he added.Moreau, a former manager at Airbus Helicopters Deutschland GmbH, joined the eVTOL space because "it was the new revolution going on.""With two colleagues of mine, we left Airbus to be part of the revolution, and try on our own an exciting adventure," he said.Moreau told BI he expects AutoFlight's cargo eVTOL to be certified in China within six to 12 months, but that a passenger version could take another two or three years to get certified.The emphasis on cargo also means AutoFlight is better positioned to explore self-flying-aircraft options."We are already flying autonomously with the cargo version," Moreau said. "There is no pilot, there's no cockpit. There's nothing.""For the passenger version, we believe we need a pilot first," he added. "And maybe in a few years' time when people are used to flying, then there will be no pilot."Goldstein said Archer is aiming for its aircraft to be fully autonomous in 2030. It's made progress after reaching an agreement with Wisk Aero, an eVTOL company owned by Boeing, following a two-year dispute.<a target="_blank" href="https://www.businessinsider.com/flying-taxi-rivals-archer-and-wisk-settle-dispute-will-collaborate-2023-8">Wisk accused Archer of stealing trade secrets</a> in a 2021 lawsuit. The complaint alleged that Archer hired ten Wisk engineers and produced an aircraft with "a striking resemblance" to a Wisk patent. A forensic investigation found that two of those former Wisk engineers downloaded thousands of files shortly before leaving for Archer, according to the lawsuit.In August, the rivals settled and agreed to work together. Wisk is now Archer's exclusive provider of autonomous-flying technology, and Boeing agreed to invest an undisclosed amount into Archer as part of a $215 million funding round.In a press release, Archer said the agreement would help it avoid "hundreds of millions of dollars of spending" on research and development.<h2>'You don't get tired of them — they just look right'</h2><div type="image" title="Frank Stephenson wears a black suit and poses in front of AutoFlight's Prosperity I" height="1399" width="2500" msid="106100928" hostid="261"></div>After Lilium, Stephenson also designed eVTOLs for Archer and AutoFlight, which he said is "probably the most effective design so far."Unlike Archer's Midnight, AutoFlight's Prosperity I doesn't need the propellors to tilt — horizontal rotors take the aircraft up and down, and the ones on the back push it forward."The intention I always had from the beginning was: How simple can you reduce all the elements, and it doesn't look boring, it still looks futuristic?""It ends up looking beautiful because it's so functional when it does," Stephenson told BI. "There's nothing really ugly in nature — something might shock you, but it doesn't look wrong.""The cars and the objects that are designed for efficient functionality tend to last a long time in terms of aesthetics. You don't get tired of them — they just look right.""It's an incredibly interesting field to be in right now," he added. "30 years from now, I might sound stupid. But right now, we're breaking new ground."

Flying taxis could take to the skies by next year. Here's why the aviation industry is so excited about eVTOLs.

<ul><li>The company has been working on the project⁠— in which India’s Tata Group has a small investment⁠— for the last two decades </li><li>The founders told <keyword id="824043" type="COMPANY" weightage="20" keywordseo="Business-Insider">Business Insider</keyword> that they see a company like <keyword id="86569" type="COMPANY" weightage="20" keywordseo="Hindustan-Aeronautics-Limited">Hindustan Aeronautics Limited</keyword> (HAL) as a potential partner.</li><li>The Yoelis see the flying car useful as an ambulance for health emergencies to start with, something that government or private hospitals and civic bodies can incorporate into their fleet. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider</a>.</li></ul>Israel-based <keyword id="3918963" type="PERSON" weightage="20" keywordseo="Urban-Aeronautics">Urban Aeronautics</keyword> is developing <keyword id="489845" type="PERSON" weightage="20" keywordseo="Flying-cars">flying cars</keyword> called the <keyword id="9571506" type="COMPANY" weightage="20" keywordseo="cityhawk">CityHawk</keyword> powered by hydrogen fuel cells. The company has been working on the project⁠— in which India’s Tata Group has a small investment⁠— for the last two decades and is currently looking to raise money and gain a strategic partner in the last financing round. The founders told Business Insider that they would consider India for manufacturing and see a company like <keyword id="151778" type="DOMAIN" weightage="20" keywordseo="Hindustan-Aeronautics">Hindustan Aeronautics</keyword> Limited (HAL) as a potential partner. <div type="image" title="Rafi Yoeli" msid="76954191" hostid="261" caption="&amp;lt;p&amp;gt;Rafi Yoeli, the inventor and designer behind the Urban Aeronautics flying car.&amp;lt;/p&amp;gt;"></div> “We are looking for $40 million, possibly in tranches and maybe not all at once. The amount of money will take us to full-scale development at the beginning of manufacturing of the unmanned vehicle,” said <keyword id="9571507" type="PERSON" weightage="20" keywordseo="janina-frankel-yoeli">Janina Frankel-Yoeli</keyword>, the vice-president of marketing at Urban Aeronautics. “We are at a stage in 2020 where we are looking for serious agreements with strategic partners. We believe that Stage B will end in some kind of M&amp;A. We need a lot more than $40 million to actually finish the program, certify it and then switch to hydrogen, certify that as well, and launch it into the market,” said Rafi Yoeli, the inventor and designer behind the Urban Aeronautics flying car. The India connection The company currently has private investors, one of which is Tata Industries. However, Tata while responding to Business Insider queries said, “Tata Industries is a very minor investor in Urban Aeronautics. We do not have any further guidance to offer.” It has also partnered with French company Safran, which supplies all power and requirements. “We have signed an agreement with certain parties, not in India yet, but we are definitely looking forward to it. Really for the manned-aircraft, which we think has a lot of potential in India,” Rafi said. Rafi thinks a lot of aircraft makers in India can be a great strategic partner for their company. “There are a lot of aircraft makers in India we know Hindustan Aeronautics Limited (HAL), there was some point where Tata could have been a partner. I think they went in different directions. But, they are still invested,” he said. “We are a private company and setting up a manufacturing unit in India is a big advantage for us,” he added. How does a flying car look? The company aims to deploy these flying cars like Uber in the sky. No, it’s no more a dream or merely a fiction the company has already developed its “first tone, full-scale flying car, as you can see it is still unmanned. It is called comran. It already has 300 autonomous flights behind it,” Rafi Yoeli. <div type="image" title="image1(1)" msid="76954249" hostid="261"></div> CityHawk is a six-seater vehicle, with a uniquely compact footprint and no external wings or rotors. “It is indeed the size of a car. It is 2.25-metre wide at this time and approximately 6 metres long, more of a van. But it takes off vertically. It can carry 100s of kilograms, and it is designed to the same standard and same procedures as you design a bell two helicopter,” Rafi Yoeli told Business Insider. The Yoelis see the flying car useful as an ambulance for health emergencies to start with, something that government or private hospitals and civic bodies can incorporate into their fleet. As of now, flying vehicles including drones <a href="https://uavcoach.com/drone-laws-in-india/">are tightly regulated in India</a>, and it may be a while before the country opens up to flying cars, or is even able to afford them on a large scale. However, allowing a manufacturing unit is an opportunity to attract investment, to create jobs for some of the country’s bright engineers, and the subsequent knowledge transfer will make the country a fertile ground for future innovations in a space that is yet to take shape. SEE ALSO: <a href="https://www.businessinsider.in/science/space/news/comet-neowise-will-burn-bright-over-india-for-the-next-20-days-after-two-earlier-comets-fizzled-out/articleshow/76953313.cms" data-type="tilCustomLink">Comet Neowise will burn bright over India for the next 20 days after two earlier comets fizzled out</a> <a href="https://www.businessinsider.in/stock-market/markets/news/rossari-biotech-ipo-analysis-and-comparison-with-camlin-fine-srf-and-clariant/articleshow/76953016.cms" data-type="tilCustomLink">Rossari Biotech IPO⁠— 40 scientists, China, and other factors that make the share sale hot</a>

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