Odys Aviation, a US-based hybrid electric aircraft manufacturer, has joined the UAE's NextGen FDI programme and plans to open its regional headquarters in Abu Dhabi, coupled with a high-volume assembly and maintenance plant to expand its operations.
The move will create more than 2,000 direct and indirect jobs in the UAE and will result in the export of the first aircraft manufactured under the “Make it in the UAE” certification, state news agency Wam reported on Saturday.
The California-based start-up is developing hybrid-electric vertical take-off and landing (VTOL) aircraft designed for both long distances, as well as short-haul “air taxi” routes for passengers, cargo and emergency services.
Odys Aviation’s aircraft will be able to deliver all-electric propulsion for 320km, with a hybrid-electric range of more than 1,200km.
This means the aircraft has the potential to reduce carbon emissions on air travel within the GCC region by up to 76 per cent, and provide a zero-carbon travel alternative for all journeys across the UAE.
“We see significant opportunities for the operation of Odys aircraft across the UAE in civilian, cargo and civil defence activities, and we look forward to developing a new sustainable, low-carbon aviation sector – from clean energy air travel through to advanced manufacturing and research and development capabilities,” said Dr Thani Al Zeyoudi, Minister of State for Foreign Trade.
The UAE aims to attract hundreds of companies to set up in the country as part of a NextGen FDI programme launched last year.
It aims to speed up licensing, ramp up the issuance of bulk or golden visas, improve banking services and provide commercial and residential lease incentives for advanced technology companies seeking to relocate to the UAE.
Under the first phase of the programme, the Emirates aims to attract 300 digital companies within six months to a year, Dr Al Zeyoudi said at the launch of the programme last year.
“Our NextGen FDI programme is helping to transform the UAE’s advanced manufacturing and industrial sector and create new clusters of excellence around world-changing ideas.”
In 2021, the UAE launched the Operation 300bn strategy to increase the manufacturing sector's contribution to the country's gross domestic product to Dh300 billion ($82 billion) by 2031, from Dh133 billion in 2021.
The Arab world's second-largest economy is also encouraging companies to manufacture products locally as part of the Make it in the Emirates initiative.
“By bringing Odys to the UAE, we aim to partner with the existing strong aviation sector and leverage local supply chain opportunities,” said Odys Aviation co-founder and chief executive James Dorris.
“Our aircraft will also mean brand new opportunities for domestic air connectivity in the UAE and regional flying between key GCC cities, cutting door-to-door times in half, compared to conventional travel options today, and doing so in a carbon-friendly way.”
The company plans to launch a full-scale prototype in 2025, with the aircraft entering into service in 2027. It has already received pre-orders for more than 1,200 aircraft from operators and airlines around the world.
