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Saturday, January 26, 2013

SkyCar going into production in 2014

Moller International is now apparently $80 million closer to putting the SkyCar into production with the financial backing of Athena Technologies, LLC of Harbor City California. The goal of the newly formed JV is to establish co-production for its aircraft in the US and the People's Republic of China.

Under the provisions of the memorandum, California-based MI will team with this Athena -led JV to jointly produce numerous models of its vertical take-off and landing (VTOL) aircraft. The JV will initially invest $80 million dollars of a planned $480 million investment with the objective of producing a variety of VTOL aircraft by 2014. Production will include the Skycar® 200 LS, Skycar® 400, Skycar® 600 and Neuera™ aircraft.

The SkyCar is designed for speeds of over 300 MPH at altitudes as high as 36,000 feet would seat two-to-four people, notes The Daily Mail (UK) and is designed by Dr. Paul Moller.

Under the agreement, Moller will retain its intellectual property rights, while providing the joint venture with aircraft designs, ready-to-install aviation engines and the requirements for the airframe and flight control system hardware to be produced in China. Athena is billed as a consortium of several U.S. private equity funds and credit guarantee companies, with a focus on U.S.-China trade relations and e-business networks.

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