Pipistrel Keeps Conquering the Chinese Market
Together with the Chinese partner Sino Group, Pipistrel has founded a joint venture to produce ultra-light aircrafts. The planned annual output is over 500 ultra-light aircrafts. First, the partners see the prospects for the development of eco-aviation. The budget of the seven-year project is 350 million euros.
In November 2016, the director and co-owner of the Pipistrel (Iowa) company, Ivo Boscarol, said that they would manufacture electric ultra-light aircrafts and hybrid Panthera aircrafts.
Simultaneously, the parties signed an agreement with the city of Yurong on the construction of an air centre. In the course of the project, it is also planned to build several production workshops for the manufacture of Pipistrel aircrafts in China.
In an interview with Radio Slovenija, Ivo Boscarol said that the new Chinese enterprise would manufacture airplanes for the Chinese market and 11 other markets of neighbouring countries. Pipistrel will have a 51% stake in the joint venture, and its Chinese partner will possess 49%. It will also provide the investment needed to implement the entire project.