CATL invested hundreds of millions of dollars in Autoflight, the first known CATL investment in an eVTOL maker.
CATL has invested in Autoflight, a Chinese startup focused on automated eVTOL (Electric Vertical Takeoff and Landing) technology, as the battery giant looks to expand its technology beyond electric vehicles (EVs).
CATL and Autoflight signed an agreement on August 3 to invest hundreds of millions of dollars exclusively in the eVTOL maker as a strategic investor, according to a press release from Autoflight today.
This is the first time a CATL investment in an eVTOL maker has been made public, and Autoflight said the investment reflects CATL's recognition of Autoflight's competitiveness and long-term growth potential in the eVTOL space.
CATL has world-leading battery technologies and innovation capabilities, and its R&D strength, industrial base and strong industry chain advantages will help Autoflight make greater breakthroughs in the eVTOL field, the press release said.
The two will establish a long-term partnership dedicated to the research and development of eVTOL aviation batteries, Autoflight said.
The two companies will utilize their respective resources and technological strengths to focus on improving the energy density and performance of eVTOL batteries to support longer flight ranges and higher payloads for eVTOLs, Autoflight said.
The partnership will also help eVTOL batteries improve in terms of safety and stability, the company said.
Founded in 2017, Shanghai-based Autoflight is one of the earliest companies in China's eVTOL sector, aiming to provide air logistics and air mobility solutions.
On September 18, 2021, Autoflight announced the completion of a $100 million Series A funding round, which was the largest single funding received by a Chinese eVTOL company at the time.
In October 2021, the company completed the maiden flight test of its V1500M, which has a maximum takeoff weight of 1,500 kilograms, a maximum number of 3-4 passengers, and a passenger flight range of up to 250 kilometers.
Autoflight said on May 13 this year that its 2-ton eVTOL V2000CG completed a test flight at the Shanghai Pudong International Airport, the first test flight of such an aircraft at a 4F airport.
On August 1, Autoflight said one of its eVTOLs completed its first flight across the Yangtze River, covering 25 kilometers with a 10-minute round-trip flight.
CATL, the world's largest maker of EV batteries, is trying to get its technologies used in more areas.
The Chinese battery maker unveiled the Condensed Battery in April 2023, which it said at the time was expected to be used in electric airplanes.
CATL chairman Robin Zeng said in a presentation in late June that the company was making progress on its electric manned aircraft partnership, which was expected to support a range of about 2,000 to 3,000 kilometers by 2027-2028.
CATL expects its batteries to power electric aircraft with up to 3,000 km range
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