Saudi Arabia Investing $30 Million To Launch Flying Cars
Saudi Arabia has announced a $30 million investment in the development of flying cars (eVTOL aircraft) as part of its push towards advanced transportation technology. The flying car will be officially launched in Saudi Arabia in 2030. The agreement has been signed with the U.S.-based company, Doroni Aerospace, to accelerate the production of the HX-1 eVTOL (Electric Vertical Take-Off and Landing) aircraft.
What is the HX-1 Flying Car?
The HX-1 is a two-seater electric aircraft that can be charged at home, easily parked in a garage, and is capable of vertical take-off and landing (VTOL). This feature allows it to operate in urban environments without requiring a runway, making it a convenient and futuristic mode of personal air transportation.
The agreement was finalized through Innovation Wings Industries (IWI), which operates under the name Kingdom Aero Industries (KAI) in Saudi Arabia.
Project Timeline & Investment Plan
According to Doroni Aerospace CEO, Doron Merdinger, the HX-1 flying car is expected to be commercially available by 2026, while its production in Saudi Arabia will begin in 2027.
The $30 million investment will be made in two phases:
- Phase 1: An initial $5 million will be provided immediately.
- Phase 2: The remaining $25 million will be released over the next two years upon achieving key milestones.
As part of the deal, KAI will acquire a 40% stake in Doroni Aerospace, giving Saudi Arabia a significant role in the development of this next-generation technology.
A Step Towards Vision 2030
This investment aligns with Saudi Arabia’s Vision 2030, a national strategy aimed at diversifying the economy beyond oil by investing in cutting-edge technology and modern industries. The HX-1 flying car project reflects the country’s commitment to futuristic mobility solutions and strengthening its position as a global hub for technological advancements.
Additional Insights
- eVTOL aircraft are considered the future of urban air mobility, reducing traffic congestion and providing a sustainable transportation alternative.
- Saudi Arabia has already invested in autonomous vehicles, AI, and smart infrastructure, making this project a natural extension of its technological expansion efforts.
- With the growing market for electric flying vehicles, Saudi Arabia’s involvement in the industry could position it as a leader in next-generation transportation solutions.
By investing in flying car technology, Saudi Arabia is taking a bold step towards revolutionizing personal transport, supporting environmentally friendly solutions, and advancing smart mobility on a global scale.
