Skip to content Skip to Search
Skip navigation

French and Italian firms to test flying taxis in Abu Dhabi

An eVTOL craft designed by French company Ascendance, which has signed a deal with Abu Dhabi Investment Office to set up in the emirate Ascendance
An eVTOL craft designed by French company Ascendance, which has signed a deal with Abu Dhabi Investment Office to set up in the emirate

Abu Dhabi Investment Office (ADIO), an investment arm of the Abu Dhabi government, has signed agreements with France’s Ascendence and Italy’s Manta Aircraft to set up operations in the emirate’s smart and autonomous vehicles industry (Savi) cluster.

The agreements were signed at the recently-concluded Dubai Airshow, the UAE state-run Wam news agency reported.

Located in Masdar City, the Savi cluster provides facilities, services and a regulatory framework to enable the design, testing and manufacturing of applications for transportation and mobility on air, land and sea.

Ascendance will evaluate the potential of its electric vertical take-off and landing (eVTOL) design – Atea – to create new aerial routes in the UAE on a regional scale by partnering with local operators. 

Manta Aircraft plans to relocate its operations to the Savi cluster and establish a facility to manufacture three aircraft models. 

The company is discussing with Abu Dhabi’s Technology Innovation Institute to co-develop a hybrid propulsion system to integrate into its products and for sale to other businesses.

ADIO in October agreed with US-based Archer Aviation to commence air taxi operations in Abu Dhabi in 2026. 

The Californian company will establish its first international headquarters and manufacturing facilities in the Savi cluster.

Abu Dhabi last month unveiled plans to establish Savi, which aims to add up to AED120 billion ($33 billion) to the country’s economy.

Latest articles

STC wants to consolidate the mobile tower market

STC approves PIF purchase of telecom company

Shareholders of Saudi telecom giant STC have approved plans to create a new telecommunications infrastructure company in which the Public Investment Fund will have a 51 percent stake valued at SAR8.7 billion ($2.3 billion).  Under the deal, the STC-owned Telecommunication Towers Co. Limited (Tawal) will become a PIF subsidiary through a merger with Golden Lattice […]

Flavio Cattaneo of Enel, of which Endesa is a subsidiary, and Mohamed Jameel Al Ramahi at the signing of the deal

Masdar buys stake in Spanish utilities company Endesa

The UAE’s state-owned clean energy company Masdar has agreed to acquire a minority stake in Spanish electric utility business Endesa to partner for 2.5 gigawatts (GW) of renewable energy assets in Spain. Under the agreement, subject to regulatory approval, Masdar will invest nearly $890 million to acquire a 49.99 percent stake in Endesa, with an […]

UAE markets Hong Kong

UAE capital markets partner with Hong Kong exchange

The Hong Kong Stock Exchange (HKSE) has added the Abu Dhabi Securities Exchange (ADX) and the Dubai Financial Market (DFM) to its roster of recognised marketplaces. The move opens the door for UAE-based companies to pursue secondary listings on one of Asia’s premier financial markets. It also follows the inclusion of the Saudi Exchange (Tadawul) […]

Person, Worker, Adult

Aramco and PIF invest in Saudi-Chinese steel venture

Saudi Aramco and the Public Investment Fund have doubled their investment in a steel plate joint venture with a Chinese company to $500 million. The two Saudi companies each own 25 percent shares in the new venture in Ras Al Khair industrial city, Bloomberg reported, quoting a statement published on the Chinese stock exchange. Chinese […]