American Doroni Aerospace company partners with Saudi entities to manufacture ‘flying car’ for personal use
In collaboration with Saudi organizations, the American company Doroni Aerospace declared its intention to produce the H1-X "flying car." Personal use, the HX-1 is a two-seater aircraft that can take off vertically from a driveway, be charged at home, and be parked in a two-car garage. Innovation Wings Industries (IWI), doing business in Saudi Arabia as Kingdom Aero Industries (KAI), has made a $30 million strategic investment in Doroni Aerospace, a company situated in Pompano Beach, Florida.
Doroni stated in a press release that this investment will expedite the company's H1-X's eVTOL (electric vertical take-off and landing) development, putting the aircraft closer to its target of launching by the end of 2026.
The initial $5 million of the $30 million investment will be made at the closure, and the remaining $25 million will be linked to significant development milestones over the following two years. Subject to additional funding, KAI will own 40% of Doroni after the deal is finished.
