Dubai: Saudi Arabia has engaged $ 30 million in the development of flying cars, in partnership with the American company Doroni Aerospace. The investment, announced in a press release, should accelerate the production of HX-1, a two-seater electric aircraft designed for personal use.
Doroni Aerospace, based in Pompano Beach, Florida, obtained the strategic investment of innovation Wings Industries (IWI), operating as Kingdom Aero Industries (KAI) in Saudi Arabia. According to Doroni’s CEO, Doron Merdiner, the agreement includes plans for a joint venture to start making HX-1 in Saudi Arabia from 2027.
The HX-1 is an electric vertical takeoff and landing plane (Evtol), which can be loaded at home, parked in a garage in two cars and take off from an aisle. This partnership will accelerate the development of EVTOL technology, in order to launch the plane by 2026.
The investment of $ 30 million will be made in two phases: a first 5 million dollars at the end, the remaining 25 million dollars linked to key stages over the next two years. Once finished, Kai will hold a 40% stake in Doroni.
“This partnership is aligned with our mission to provide air mobility transformative solutions to the world,” said Merdiner. “We are proud to help advance Doroni’s vision and establish a world class manufacturing center in Saudi Arabia.”
This decision is part of the broader 2030 vision initiative of Saudi Arabia, which aims to diversify the country’s economy beyond oil and invest in advanced technologies such as flying cars.
