(Yicai) July 23 -- Volant Aerotech has signed a USD1.75 billion deal to supply electric vertical take-off and landing aircraft for use mainly in Thailand and the Maldives, making it the largest order so far placed with a Chinese eVTOL business.

Shanghai-based Volant Aerotech signed the deal today with Thai property developer Pan Pacific Company at the International Advanced Air Mobility Expo, which opened in the city today. The other partner in the deal is China National Aero-Technology International Engineering Corporation.

Under the agreement, the Shanghai-based company will supply 500 of its VE25-100 eVTOL flying taxis, which will be used for short-distance inter-island hopping and emergency rescue in Thailand and the Maldives. Each one can carry five passengers for distances up to 400 kilometers and at a cruising speed of 235 km per hour.

Besides not requiring a runway, because they take off and land vertically like helicopters, eVTOL vehicles have other benefits such as low noise levels and reduced carbon emissions.

Pan Pacific’s order comes just a week after Shanghai-based rival TCab Technology signed the previous record deal for a Chinese eVTOL company, a USD1 billion order for 350 of its flying taxis from Autocraft, an air mobility firm based in the United Arab Emirates.

Founded in June 2021, Volant Aerotech has also signed deals to supply companies including China Southern Airlines and Inner Mongolia Express General Aviation.

CAIEC is an aviation infrastructure builder and services provider that has worked on airport projects in Angola, Kenya, and Sri Lanka. It will provide the necessary low-altitude infrastructure in Thailand and the Maldives as well as other areas where Volant Aerotech’s aircraft will be used, including Southeast Asia and Africa. 

Editor: Tom Litting