(Yicai) Aug. 5 -- Contemporary Amperex Technology, the world's biggest battery maker, has invested hundreds of millions of US dollars in Chinese air taxi startup Autoflight, with the pair set to jointly research and develop batteries for electric vertical take-off and landing aircraft.

CATL and Autoflight will work together to improve the energy density and performance of batteries for eVTOL aircraft so that they can fly farther and carry more, under the deal they inked on Aug. 3. They will also strive to enhance the safety and stability of such batteries, Shanghai-based Autoflight said the same day.

Gotion High-Tech, Farasis Energy, and other Chinese battery giants are also developing eVTOL aircraft batteries.

“CATL’s exclusive strategic investment in AutoFlight underscores its strong recognition of its core competitiveness and the long-term development potential in the eVTOL field,” AutoFlight said.

Established in 2017, Autoflight is a Chinese pioneer in the eVTOL sector and has developed a range of products, including large eVTOL freight and manned aircraft. It has completed a number of key eVTOL flights this year, including the first cross-city and cross-sea trial from Shenzhen to Zhuhai, the first in the United Arab Emirates, and the first across the Yangtze River.

The tie-up is the latest investment in the low-altitude economy made by CATL. The Ningde-based firm and Commercial Aircraft Corporation of China set up a joint venture in July last year, making notable progress with electric planes after successfully testing a four-ton aircraft.

By 2028, CATL plans to release an eight-ton civil e-aircraft with a range of around 2,000 to 3,000 kilometers and a battery energy density of up to 500 watt-hours per kilogram.

Editor: Martin Kadiev