Terrafugia announces merger with drone developer
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E-mail Xinhua, September 16, 2020
U.S.-based flying-car company Terrafugia on Tuesday announced its merger with Chinese drone developer AOSSCI to form Aerofugia Technology (Chengdu) Co., Ltd.
The new company, a subsidiary of China's Geely Technology Group, will offer integrated solutions in the general aviation sector, according to Aerofugia CEO Jing Chao.
"Pure electrification, vertical take-off and landing, and self-driving are the future trends in the general aviation industry," Jing said, adding the company's flying cars and unmanned aerial vehicles (UAV) will be developed toward these directions.
Similar technical routes of the two companies have laid the basis for the merger, which will facilitate technological sharing, raise product reliability and R&D efficiency and reduce costs, he said.
The two companies will merge their teams of developers while retaining the original brands for future air-travel products and UAV products, according to the CEO.
Geely, one of China's largest private automakers, acquired all operations and assets of Terrafugia in 2017.
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