Paul Moller has previously been sued for fraud and went through bankruptcy in 2009.
Under the provisions of the memorandum, Moller International will team with this US company-led JV to jointly produce numerous models of its vertical take-off and landing (VTOL) aircraft. The JV will initially invest $80 million (USD) of a planned $480 million investment with the objective of producing a variety of VTOL aircraft by 2014. Production will include the Skycar® 200 LS, Skycar® 400, Skycar® 600 and Neuera™ aircraft.
MI is to retain its Intellectual Property (IP) while providing the JV with aircraft designs, ready-to-install Rotapower® rotary aviation engines, and the requirements for the airframe and flight control system hardware to be produced in China.
The M400 Skycar can cruise comfortably at 275 MPH (maximum speed of 375 MPH) and achieve up to 20 miles per gallon on clean burning, ethanol fuel.
The M400X Skycar prototype shown in an unmanned hover demonstration flight.
Neuera is the flying saucer like vertical takeoff and landing vehicle
Terrafugia Transition Roadable Plane Still on track for late 2013 Deliveries
The Terrafugia Transition (competitor to Moller) is the closest to commercial sales and deliveries for a roadable plane. The Proof of Concept Terrafugia Transition Vehicle was built over 2007-2008 and testing was completed in 2009. First delivery is scheduled for late 2013. Low volume production will begin in Woburn, Massachusetts. The location for large volume production has not yet been determined. ycombinator or StumbleUpon. Thanks