Manufacturing of flying cars in Saudi Arabia

Saudi Arabia puts $30 million into the production of flying cars

Manufacturing of flying cars in Saudi Arabia
Saudi Arabia puts $30 million into the production of flying cars.
KSA will obtain HX-1 eVTOL aircraft that can charge at home, be stored in a garage, and perform vertical take-offs.

Develop flying cars

Saudi Arabia has pledged $30 million to develop flying cars in collaboration with the American firm Doroni Aerospace. The investment, which was revealed in a press release, is intended to speed up the production of the HX-1, an electric aircraft for personal use that accommodates two people.
Based in Pompano Beach, Florida, Doroni Aerospace obtained a strategic investment from Innovation Wings Industries (IWI), which operates as Kingdom Aero Industries (KAI) in Saudi Arabia. Doron Merdinger, the CEO of Doroni, states that the agreement encompasses plans for a joint venture to commence production of the HX-1 in Saudi Arabia in 2027.
The HX-1 is an eVTOL aircraft that can be charged at home, parked in a two-car garage, and take off from a driveway. The aim of this collaboration is to expedite the advancement of eVTOL technology so that the aircraft can be launched by 2026.

The $30 million investment will occur in two phases: an initial investment of $5 million at closing, followed by the remaining $25 million linked to key milestones over the next two years. When completed, Doroni will have KAI holding a 40% stake.
Merdinger stated, “This collaboration is in line with our mission of delivering transformative air mobility solutions globally.” We take pride in advancing Doroni’s vision and in the establishment of a world-class manufacturing hub in Saudi
This action is included in Saudi Arabia's larger Vision 2030 initiative, aimed at diversifying the economy beyond oil and investing in cutting-edge technologies such as flying cars.