Shanghai Autoflight, the China-based developer of the Prosperity five-seater eVTOL aircraft, has signed an exclusive strategic investment and cooperation agreement, valued in the hundreds of millions of dollars, with China-based battery manufacturer CATL.

CATL's exclusive strategic investment in AutoFlight underscores its strong recognition of its core competitiveness and the long-term development potential in the eVTOL field. As a global leader in battery technology and innovation, CATL holds a dominant position among new energy battery suppliers. Its deep R&D expertise, robust industrial foundation and extensive industrial chain advantages will help AutoFlight achieve significant breakthroughs in the eVTOL sector.

AutoFlight will commit to the joint research and development of eVTOL aviation batteries. By combining their respective resources and technical expertise, the two companies will focus on enhancing the energy density and performance of eVTOL batteries, aiming to support longer flight distances and higher load capacities, while also achieving significant improvements in safety and stability. Through this in-depth collaboration with CATL, AutoFlight will not only accelerate the development and application of eVTOL battery technology but also elevate the overall technical capabilities of eVTOL aircraft.

Following the completion of this financing, AutoFlight will remain committed to the in-depth research, development and widespread application of eVTOL technology, with a focus on further enhancing the safety and reliability of air logistics and travel solutions. The company will expedite the R&D and airworthiness certification of its manned Prosperity passenger aircraft, while collaborating with leaders in the new energy sector to advance the R&D, commercialisation and market expansion of eVTOL technology, ultimately creating a more comprehensive and intelligent air travel solution.