Electra to build $850M Ohio factory for EL9 hybrid-electric plane

Key Points:

• Electra is investing $850 million to build its first aircraft factory in Springfield, Ohio, to produce the EL9 Ultra Short, a nine-passenger hybrid-electric plane capable of taking off in as little as 150 feet.
• The factory will eventually produce up to 800 aircraft annually and create nearly 2,000 jobs, despite the EL9 still being in development with a first flight expected in late 2027 or early 2028.
• The EL9 uses a unique "blown lift" fixed-wing design with electric propellers and a Safran TG600 turbogenerator for hybrid power, offering greater range and payload at significantly lower operating costs compared to helicopters and eVTOLs.
• Electra targets regional trips of 50 to 250 miles, differentiating itself from battery-powered eVTOL air taxis by pursuing a less risky FAA Part 23 certification path and securing over $9 billion in pre-orders and 2,200 letters of intent from commercial and military customers.
• The Springfield site was chosen for its proximity to aerospace talent and advanced air mobility resources, and Electra has strong financial backing from investors including Honeywell, Safran, and Lockheed Martin Ventures.