As cities become more and more congested and fight against pollution, the technology improvement in electric mobility allows a new industry to raise and help solving this issue. With our first compact electric automated aircraft, the X01, we will skip traffic stress and save time. It is the right time to open up the third dimension in cities with our automated air taxi service.
Our customers (males, 30+) might currently own a fast car or use a premium e-hailing car service but traffic conditions rarely allow a zero-stress travel in modern cities. With our first X01 aircraft people will just take the shortest and fastest road between point A and Point B, the sky. A secondary revenue line will come from direct sales or leasing to VIP and corporate customers.
Our industry is burgeoning and investors see the global VTOL market to be valued at USD 2,235.40 Million in 2015 and projected to reach USD 5,500 Million by 2020, at a CAGR of 19.73% from 2015 to 2020. Competitors such as E-Hang (China), Uber (USA), Lilium Aviation (Germany)… are all preparing their market entry in the coming years. However, all their models use bigger aircrafts and require a landing area close to the size of a helicopter pad.
We have deliberately chosen to create the first compact electric VTOL (Vertical Take Off and Landing) aircraft able to land safely in cities streets. With its compact size, composite structure, future in-house designed ducted propellers and engines with minimal noise and advanced automated pilot (LIDAR, radar 77 GHz, and cameras through data fusion) the X01 can land in cities streets allowing us to capture key market shares. We also pay a lot of attention to digitalization and will allow customers to book and share their flight views. Our unique patented design allows our X01 to transform itself into a cargo space so that logistics companies can use it for a 150-kg payload transfer.
The X01 will have a total maximum weight of 560 kilos (120 kilos of batteries, 190 kilos for the body/Electronics, 100 kilos for the motors and propellers and 150 of payload). 16 ducted fans will be set to guarantee stability and safety. It will fly a maximum distance of 250 kilometers and its batteries will last for 2,000 charging cycles (more than 5 years).
Electric Visionary Aircrafts, Inc., registered in Delaware owns 100 percent of Electric Visionary Aircrafts, SARL in France. Setting-up our manufacturing in Toulouse, at the heart of the European Aerospace valley and new Autonomous Transportation cluster, we will benefit from a massive well-educated and innovative talent pool at a significant lower cost than in the valley and access a critical network.