Electra invests $850M in hybrid aviation

Electra Company is investing $850 million to build a hybrid aircraft factory in Ohio to upgrade production of its nine-passenger electric plane, the EL 9 UltraShot. This aircraft uses hybrid propulsion for takeoff and landing in short distances of up to 150 feet. The company's goal with this move is to shift the aircraft from the development stage to large-scale commercial production, with the first flight expected by 2027 or 2028, creating approximately 1,975 jobs. The facility will support an initial production capacity of up to 400 aircraft annually. This initiative is part of a broader trend to offer direct flights covering distances of up to 250 miles using alternative points of access such as parking lots and stadiums. Investors in the company include Lockheed Martin, Hani Weil, and Safran.

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