Bogo Industries Secures Asian Sales Rights for Electric Aircraft... $5 Million Investment

[Asia Economy Reporter Kim Bo-kyung] Special shipbuilding company 'Bogo Industries (hereinafter Bogo)' announced on the 7th that it has acquired shares in the US electric aerospace company Bye Aerospace and secured exclusive sales rights for electric aircraft in Asia.

Bye Aerospace, located in Colorado, USA, began developing electric aircraft technology in 2010 and conducted the first flight test of an electric aircraft prototype in 2012.

Bogo announced on the 7th that it invested $5 million in shares of Bye Aerospace and obtained exclusive sales rights for electric aircraft in Asia.

Out of the total $5 million, Bogo paid a contract deposit of $250,000 on the 22nd of last month and plans to pay the remaining balance in November.

Through this, Bogo will also be able to expand its business by establishing an electric aircraft AS center and training electric aircraft pilots and maintenance technicians.

In the future, Bye Aerospace will transfer electric aircraft manufacturing technology and domestic production technology of related parts to Bogo and support electric aircraft charging systems.

Bye Aerospace is developing the 2-seater electric plane eFlyer2 to the 8-seater eFlyer800 and is undergoing certification procedures with the US Federal Aviation Administration (FAA). Over 800 aircraft have been pre-sold in the US.

Chairman Noh Hyun-soo of Bogo said, "We signed the contract because we judged that the 2-, 4-, and 8-seater electric aircraft being produced by Bye Aerospace would be the first to receive FAA certification for electric aircraft," adding, "We will emerge as a leader in eco-friendly low-carbon aircraft in the Asian aviation market, including Korea."

This content was produced with the assistance of AI translation services.