CAE Inc. (TSX: CAE) and Volocopter, today announced the signing of a partnership for the development, certification, and deployment of a pilot training program for eVTOL (electric vertical takeoff and landing) operations. The partnership remains subject to a definitive agreement.
A forecasted investment of up to US$40 million substantiates CAE’s commitment to expanding the company’s international training network, with the firm deploying equipment and trainers as Volocopter sees growth.
This pilot training program aims to develop a pilots operational abilities, while ensuring safe introduction of eVTOL operations globally, before pilots are inducted into the air taxi workforce. CAE is to contribute by leveraging their advanced technological portfolio, while Volocopter’s contribution to the program stems from the company’s vast comprehension of the requirements for integration into the UAM ecosystem.
UAM is an emerging part of the commuter/aviation industry that’s targeting aerial connectivity within cities and their surrounding areas. Volocopter’s catalog of electric aircraft are designed to offer a more sustainable method of commuter transport, to remedy today’s fossil-fuel driven inner-city traffic systems for both people, and logistical delivery applications.
CAE Inc. last traded on the TSX at $39.01.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.