FlyNow eCopters to take flight in Saudi Arabia soon
The Austria-based FlyNow Aviation is working to set up the assembly plant and will start the production of the cargo version in 2027. Officially, FlyNow's eCopters are expected to transport the public during Riyadh Expo 2030.
'Additionally, test operations (sandbox flights) are planned for 2025 in Saudi Arabia to adapt the technology to local conditions,' Winter told Arab News.
Speaking about the future of mobility in Saudi Arabia, she said: 'Saudi Arabia is not only transforming its economy — it is shaping the future of mobility for the entire world.'
She added: 'Under the leadership of Crown Prince Mohammed bin Salman and Vision 2030, the Kingdom is proving that bold ideas, advanced technology, and national pride can work hand in hand. We are honored to be part of this historic journey and proud to contribute to building Saudi-made solutions for global air mobility.'
In May 2024, FlyNow Aviation signed a memorandum of understanding with the General Authority of Civil Aviation, the National Industrial Development Center, and the Sky Alliance for Automated Air Mobility.
'The cooperation aims to support the development of electric air mobility in Saudi Arabia, including regulations, airspace integration, vertiport infrastructure, and operational guidelines for unmanned air taxis,' Winter explained.
In late 2024, FlyNow Aviation established a new company, FlyNow Arabia Ltd., in Riyadh, as part of its expansion strategy. The company plans to set up local production facilities to serve both domestic and international markets.
FlyNow is an alumnus of the Destination Deep Tech program at the King Abdullah University of Science and Technology, and Winter has been invited to share insights with the participants of the follow-up program called KAUST ScaleX, which has been designed to support innovative global tech startups in expanding their operations into the Kingdom's market.
Recently, Flynow achieved a significant milestone in the development of its modular eCopter family: the first untethered test flights were successfully completed at the newly secured testing site in Eastern Austria. This location enables unrestricted flight operations and accelerates its technical progress.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Arab News
2 hours ago
- Arab News
Saudi Arabia tops MENA VC rankings with $860m in H1: MAGNiTT
RIYADH: Saudi Arabia led venture capital activity in the Middle East and North Africa in early 2025, raising $860 million — a 116 percent annual jump — backed by sovereign support and foreign interest. In its latest report, regional venture platform MAGNiTT revealed that the Kingdom witnessed 114 deals in the first half of the year, marking a significant 31 percent rise compared to the same period in 2024. This comes on the back of a strong 2024 performance, when Saudi Arabia retained its position as the most funded MENA country for VC for the second consecutive year. Startups raised $750 million, with a 34 percent increase in deal funding rounds below $100 million – dubbed MEGA deals – reflecting growing early- and mid-stage capital formation, according to a report released earlier this year by MAGNiTT and SVC. In its latest report for the first half, MAGNiTT stated: 'This growth was supported by continued sovereign capital activity, event-driven momentum from LEAP, and early-stage programs backed by new funds and accelerators.' Saudi Arabia ranked second among emerging venture markets in total VC funding, trailing only Singapore, which raised $1.28 billion across 120 deals in the first half. However, Singapore's funding declined 37 percent year on year, while the number of deals dropped 31 percent. 'The drop (in Singapore) signals a continued cooldown in late-stage deployment and foreign investor activity amid macro headwinds,' the report stated. Among emerging markets, Saudi Arabia was followed by the UAE, which raised $447 million in funding in the first six months of the year, a rise of 84 percent year on year. The UAE also matched Saudi Arabia in deal count, recording 114 deals, up 10 percent compared to the same period last year. This was driven by increased international participation, which reached its highest level in the Emirates since the first half of 2020. Elsewhere, Turkiye raised $226 million, followed by Vietnam at $216 million, Egypt at $185 million, and South Africa at $183 million. Nigeria raised $158 million, while Indonesia and Kenya secured $102 million and $71 million, respectively. The report further noted that fintech was the leading sector across all three EVM regions in the first half, accounting for 45 percent of VC funding in Southeast Asia, 38 percent in the Middle East, and 45 percent in Africa. 'The bulk of this activity was concentrated in payment solutions and lending platforms, which emerged as the dominant fintech subsectors,' added the report. Meanwhile, mergers and acquisitions activity across emerging venture markets saw 55 transactions in the first half, marking a 31 percent increase compared to the same period last year.
Arab News
2 hours ago
- Arab News
Closing Bell: Saudi main index closes in red at 11,095
RIYADH: Saudi Arabia's Tadawul All Share Index slipped on Tuesday, as it shed 118.18 points, or 1.05 percent, to close at 11,095.41. The total trading turnover of the benchmark index was SR4.52 billion ($1.21 billion), with 46 of the listed stocks advancing and 204 declining. The Kingdom's parallel market Nomu also shed 55.43 points to 27,301.46. The MSCI Tadawul Index declined by 1.09 percent to close at 1,421.31. The best-performing stock on the main market was SHL Finance Co. The firm's share price increased by 5.21 percent to SR22.62. The share price of SICO Saudi REIT Fund rose by 5.1 percent to SR4.33. Tourism Enterprise Co. also saw its stock price climb by 3.26 percent to SR0.95. Conversely, the share price of Alistithmar AREIC Diversified REIT Fund declined by 4.03 percent to SR9.05. On the announcements front, Saudi Co. for Hardware, also known as SACO, said that it signed an agreement valued at SR140.43 million to sell its warehouse in Al-Mashael district in Riyadh. In a Tadawul statement, SACO said that the proceeds from the sale will be used to repay existing bank loans and help support its future expansion plans. The firm further said that the 42,937-sq.-meter warehouse was sold to 6th Iradat Al Imdad Co., a limited liability company. The firm added that there are no related parties involved in the deal. The share price of SACO dropped by 1.02 percent to SR29.14. The shareholders of Saudi Lime Industries Co. approved a recommendation to increase its capital by 5 percent through a one-for-20 bonus share distribution, by capitalizing SR11 million from the firm's retained earnings account. The stock price of Saudi Lime Industries Co., listed on the parallel market, advanced by 4.77 percent to SR12.97.
Arab News
3 hours ago
- Arab News
Saudi Data and Artificial Intelligence Authority, Shareek sign deal to accelerate AI, cloud innovation
RIYADH: Saudi Arabia's private sector is set to gain a boost in AI-driven innovation and data capabilities through a new agreement aimed at accelerating digital transformation across key industries. The new deal, signed between the Saudi Data and Artificial Intelligence Authority and the Private Sector Partnership Reinforcement Program, known as Shareek, aims to conduct comprehensive market studies and coordinate with relevant authorities, according to an official statement. The memorandum of understanding also includes a mandate to develop AI-aligned business models and provide technical consultation services to private sector entities participating in the Shareek program. This comes as the Gulf's largest economy positions itself as a global AI hub under its Vision 2030 strategy, which targets $135.2 billion in economic value from the technology by the end of the decade. The same roadmap aims to raise the private sector's contribution to gross domestic product to 65 percent by 2030, signaling a shift toward tech-led diversification away from oil dependency. In a post on X, SDAIA stated that the MoU also seeks to 'develop investment opportunities in cooperation with relevant authorities' and to 'develop business models for both parties, in accordance with established procedures.' It added that the agreement will also focus on 'identifying and prioritizing investment opportunities and providing specialized technical consultations,' as well as 'sharing investment opportunities with the sector and relevant authorities to join the Private Sector Partnership Reinforcement Program – Shareek.' Launched in 2021, Shareek is a flagship public-private partnership program aiming to unlock SR5 trillion ($1.33 trillion) in investments by 2030. It supports large Saudi companies in accelerating growth and driving economic development. Its collaboration with SDAIA highlights its role in advancing large-scale digital transformation. The development comes as the Kingdom expands its global tech alliances, with SDAIA signing an MoU with Advanced Micro Devices, or AMD, on the sidelines of the Saudi-US Investment Forum in Riyadh in May to strengthen the AI ecosystem. The agreement aims to develop specialized AI data centers powered by AMD technologies, supporting the Kingdom's efforts to build a robust digital infrastructure. These developments come as Saudi Arabia's global AI standing continues to rise, with the Kingdom ranking third worldwide in the OECD AI Policy Observatory in December, behind only the US and the UK.
