Brussels, Belgium (EuroNews) – In a deal that could reshape the future of urban air mobility, European aerospace juggernaut Airbus announced today that it has sold the patents and intellectual property behind its pioneering Vahana flying car project to Chinese tech conglomerate Tencent.
The Vahana was one of the most ambitious flying car concepts developed by a major aviation company. It utilized electric propulsion and an innovative tilt-wing design to enable vertical takeoff and landing for urban air taxi services. After years of development and successful test flights, Airbus had planned to pursue certification of a production version.
However, in a statement, Airbus cited cost cutting measures and a need to focus resources on its core aviation businesses as the reason for divesting the flying car program. “While transformative, the urban air mobility market remains some years away. We have made the strategic decision to monetize the Vahana technology now and concentrate on our main aircraft production.”
For Tencent, the acquisition gives the Chinese tech titan a significant head start in the race to develop and commercialize flying cars and air taxi services within China’s booming megacities. “Urban air mobility is a critical solution for easing China’s transportation gridlock,” said Tencent CEO Pony Ma. “Tencent will leverage the Vahana’s leadership to make air taxis in Chinese cities a reality.”
Aviation experts analysts see the deal as a major coup for China’s aspiration to become an aviation powerhouse. “Acquiring this proven flying car tech from one of the preeminent aeronautics companies gives China a huge advantage,” said Avion Analytics’ Dries Vermeullen. “They have now leapfrogged ahead of most Western startups in this field.”
Terms of the acquisition were not disclosed, but analysts estimate the flying car program’s value at over $2 billion based on Airbus’ years of investment and flight testing. Tencent said it will be working with Chinese aeronautics manufacturers to industrialize the Vahana design for mass production.
