Robo.ai Announces Joint Venture with Ewatt Aerospace to Establish Dubai eVTOL Company "RoVTOL" [Yahoo! Finance]
Robo.ai Inc. - Class B Ordinary Shares (AIIO)
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Source: Yahoo! Finance
Ewatt ( Nanjing ) Aerospace Technology Co., Ltd. ("Ewatt Aerospace") today officially announced the establishment of " RoVTOL ", a joint venture in the UAE, focused on the global deployment of electric vertical take-off and landing (eVTOL) aircraft. The companies simultaneously announced key management appointments: Benjamin Zhai , CEO of Robo.ai, will serve as Chairman of RoVTOL, and Steven Wang , Chief Product Officer of Ewatt Aerospace, will assume the role of CEO of RoVTOL. This collaboration marks another substantial step forward for Robo.ai in the fields of "Smart Mobility, Smart Devices, and Smart Contracts". Deep Synergy of Resources and Technology to Build a Global Competitive Edge in eVTOL This joint venture represents a precise integration of both parties' core strengths: Robo.ai will contribute local capabilities, support for regulatory approval and market access in the Middle East , and global market development, laying the foundation for RoVTOL's global operations.
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