Chennai start-up bags $1B deal to supply electric air ambulances
What's the story
Indian electric aircraft start-up, The ePlane Company, has bagged a deal worth over $1 billion to supply 788 air ambulances. The Chennai-based start-up will supply these electric vertical takeoff and landing (eVTOL) aircraft to ICATT, a well-known air ambulance service provider. The agreement comes at a time when India is grappling with increasing traffic congestion in its major cities.
Nationwide deployment
ICATT plans nationwide deployment of eVTOLs
ICATT plans to deploy these futuristic eVTOLs in every district of India. The ePlane Company hopes to start commercial operations in the second half of 2026, with an initial production rate of 100 units per year. "We can ramp up our production and put things into the market to good use much more effectively with an air ambulance than directly going to an air taxi," said Satya Chakravarthy, founder of the start-up.
Range expansion
ePlane's aircraft to have initial range of 110km
The eVTOL aircraft from the ePlane Company will have a range of some 110km to start with. However, this can be pushed to over 200km in future iterations. The start-up has already raised $20 million from investors and plans to start with three prototypes of the air ambulances, each of which will be capable of carrying a pilot, a paramedic, and a patient with a stretcher.
Funding needs
ePlane seeks additional funding for commercial production
Chakravarthy, also a professor at the Indian Institute of Technology-Madras where his start-up is incubated, said that they will need an additional $100 million. This will be used to manufacture more prototypes in other forms, achieve type certification and start commercial production. The deal with ICATT is a major milestone for the ePlane Company in its journey toward revolutionizing urban travel with battery-powered aircraft.