California-based AIBOT has been awarded a US$15 million grant from the California Competes Grant Programme to help advance its plans to disrupt the next generation of mobility with its AI-defined electric vertical take-off and landing (aiEVTOL) aircraft and ecosystem.
Jerry Wang, Executive Chairperson at AIBOT commented on the grant saying: “Receiving this grant is a powerful endorsement of our mission and potential. We’re ready to utilise this opportunity to fortify our role as an ultra-high-tech leader in the Advanced Air Mobility (AAM) sector, making substantial contributions to California’s economy and job market.”
AIBOT was one of two eVTOL companies (out of a total of eight companies) to receive the grant, with Josh Lowenthal, Assembly member representing California’s 69th district adding: “AIBOT’s selection for the CalCompetes Grant is a resounding vote of confidence in their innovative approach and groundbreaking technology… Their commitment to creating a sustainable and interconnected future aligns perfectly with California’s economic and enviornmental goals and I’m excited to see how their expansion will energise Long Beach and the surrounding communities.”
The eVTOL developer plans to create 697 new full-time jobs and invest US$494 million capital investment over the next five years. The grant will enhance AIBOT’s R&D capabilities, flight testing and manufacturing with operations centralised in Long Beach and Mojave.
“The grant will allow AIBOT to bring its flight testing and manufacturing to California while enabling fast-tracking the production of our first commercialised aiEVTOL product which includes local investment to build manufacturing facilities and create numerous job opportunities,” added Jerry Wang.
AIBOT is set to host an exclusive company debut event at its Long Beach headquarters in early 2024. Ahead of its planned unveiling of its first unmanned aiEVTOL aircraft later in the year, the event will be used to showcase its groundbreaking technology, products and comprehensive business plan.
