Doroni Aerospace, an American company, has announced a significant partnership with Saudi Arabian entities to produce the H1-X ‘flying car’. This innovative vehicle, the HX-1, is designed for personal use, offering the convenience of being parked in a standard two-car garage, charged at home, and capable of vertical take-off directly from a driveway.
The collaboration includes a $30 million investment from Innovation Wings Industries (IWI), operating as Kingdom Aero Industries (KAI) in Saudi Arabia. According to a press release from Doroni Aerospace, this investment will expedite the development of the H1-X’s eVTOL (electric vertical take-off and landing) capabilities, aiming for a market launch by the end of 2026.
The agreement outlines a joint venture to manufacture the H1-X in Saudi Arabia starting in 2027. This venture will be co-owned and financed by KAI, aiming to globally distribute the aircraft and expand Doroni’s market reach. The formal agreement is expected in the upcoming months.
The financial plan includes an initial $5 million investment at the deal’s closing, with the remaining $25 million contingent on achieving specific development milestones over two years. Upon completion, KAI will acquire a 40% stake in Doroni, subject to future capital raises.
Doron Merdinger, CEO of Doroni, expressed enthusiasm about the partnership, stating it will accelerate development, certification, production, and the recruitment of top aerospace talent to bring the H1-X to market by 2026.
Ismail Kashkash, CEO of KAI and newly appointed member of Doroni’s Board of Directors, emphasized the strategic alignment of this partnership with KAI’s mission to advance air mobility solutions globally. He highlighted the role this collaboration will play in establishing a world-class manufacturing hub in Saudi Arabia.
This initiative aligns with Saudi Arabia’s Vision 2030 goals, which focus on diversifying the economy beyond oil dependency by investing in advanced transportation technologies.
