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April 22, 2022

LTTS secures $100m electric air mobility deal from Jaunt

The Indian tech firm will set up a new R&D facility in Québec, Canada, where it will offer engineering services and technology.

India’s L&T Technology Services (LTTS) has secured an electric air mobility deal worth more than $100m from US-based aerospace company Jaunt Air Mobility (Jaunt).

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Under the contract, LTTS will set up an engineering and research and development (R&D) centre in Québec, Canada, to provide engineering services for the Jaunt Journey, which is Jaunt’s electric Vertical Takeoff and Landing (eVTOL) air taxi.

Jaunt CTO and CEO Martin Peryea said: “At Jaunt, our vision is to usher in a range of new-age aircraft-driven urban commuting that is fast, safe and convenient. This new clean, sustainable aircraft will reduce carbon emissions worldwide.

“Strategically, we are continuing to grow our Tier 1 partnerships and recognise LTTS as a best-fit engineering partner, and together we are confident of pushing the mass-scale commercialisation.”

Jaunt claims that its new aircraft will take off like a helicopter, before transitioning to flying like a fixed-wing plane using patented Slowed-Rotor Compound technology.

Jaunt Journey will be a single-pilot aircraft with passenger seating capacity. It will be able to fly more than 110km within 25 minutes.

LTTS will support the project by offering a power distribution system, air data management, cockpit display system, flight control system and battery management.

Its offering will also include electrification, power electronics, structural design, stress analysis, testing, certification and manufacturing engineering.

LTTS managing director and CEO Amit Chadha said: “This deal is a milestone for team LTTS in view of the tremendous opportunities opening up in urban air mobility (UAM) and drone services, which are emerging as alternatives to the increasingly congested on-ground mobility in cities.

“LTTS has a track record of developing high-performance engineering solutions for global Aerospace and Defence for over a decade and has supported critical defence programmes in the past.

“We believe this programme will set the benchmark for future UAM projects and our team is excited to build on this important engagement with Jaunt, with the eventual aim to make urban commuting safer, greener, efficient and reliable.”

Related Companies

Free Report
img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

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