Back to Blog
Workhorse drone5/21/2023 However, the manufacturer wanted to bring its focus back to its core business – the development of its N-GEN electric delivery truck and W-15 electric pick-up truck, and this return to its roots largely prompted the idea to sell. Becoming the first eVTOL manufacturer to start the experimental certification process with the FAA in June 2018. The company is already well underway in its certification and development stages. The SureFly design we know was revealed in November 2017. Workhorse started development of the SureFly back in 2016, gaining a lead over many other budding eVTOL companies due to its experience of electric-propulsion technology. “Through our HorseFly joint venture, we’re looking forward to taking another existing Workhorse technology and leveraging the experience and resources of an established enterprise to tackle new markets and create outcomes that are greater than just the sum of the parts.” In selling SureFly, we have been able to monetize a secondary asset, which will provide us with additional working capital for our core business, which is the manufacturing of electric last-mile delivery vehicles. Workhorse CEO Duane Hughes said: “Building strong relationships through partnerships and transactions with world-class operators like Moog has always been a key area of focus for our company. Moog has a presence in a diversity of manufacturing industries, and this acquisition appears to be its shoe-in into the drone and urban air mobility market with the acquisition of tried and tested aircraft technology. Both parties will continue the project as a joint venture. In the second part of the transaction, Moog also acquired 50% of Workhorse’s package delivery drone project HorseFly. The first step of the deal saw Moog take ownership of the SureFly eVTOL aircraft and the related hybrid-electric power system technology. Moog is acquiring all the assets of SureFly, its cash and cash equivalents, insurance policies and certain liabilities for the agreed price. The agreement was made for Workhorse to sell SureFly to Moog last month for $4 and the deal was closed on 27 November. 1.Following a year-long search for potential buyers, Ohio-based electric vehicle manufacturer Workhorse has sold its electric-VTOL arm SureFly to the design and manufacturing group Moog. Exciting stuff! Here is our list of 13 passenger drones and drone taxis (updated July 2021). Many are also well into testing with real humans on board. Drones for humans are starting to show great potential, and many are targeting prices of only around $200,000! Over the past decade there have been multiple companies designing and building personal unmanned aircraft. It wasn’t that long ago that this was the stuff of dreams. If you ask us, personal transportation by your own personal unmanned aircraft can’t come soon enough! Imagine your daily commute with no more traffic jams, no traffic lights, no construction delays… We feel that the future of drones is not just for taking great aerial photos and gathering data. It’s also finally giving us the “flying cars” that humankind has been talking about for so many years. One of the reasons we launched DroneTrader was to not only provide a listing service for used UAVs but to also one day have a platform ready where people can go to list their used manned passenger drones.
0 Comments
Read More
Leave a Reply. |