Edition:
India

MTU Aero Engines Signs Letter of Intent With e.SAT GmbH


Monday, 17 Jun 2019 

June 17 (Reuters) - MTU AERO ENGINES AG ::TAKES STAKE IN NEW SILENT AIR TAXI HYBRID-ELECTRIC SMALL AIRCRAFT.LETTER OF INTENT SIGNED WITH E.SAT GMBH.JOINS THE PROJECT AS A TECHNOLOGY PARTNER AND SHAREHOLDER.PARTIES AGREED THAT MTU WILL TAKE A STAKE IN DEVELOPMENT AND PRODUCTION OF UNIQUE HYBRID-ELECTRIC POWERTRAIN FOR NEW AIRCRAFT.PARTIES AGREED THAT MTU ACQUIRE SHARES IN THE RECENTLY FOUNDED COMPANY IN THE AMOUNT OF TEN MILLION EUROS.PARTNERS PLAN TO NEGOTIATE DETAILS OF THEIR COOPERATION BY LATE OCTOBER, AIM BEING TO GET CONTRACT WRAPPED UP BEFORE YEAR-END.