Electra to build $850 million Ohio factory for hybrid-electric aircraft

Aircraft startup Electra intends to invest approximately $850 million to construct a manufacturing facility in Ohio. This project will establish the first dedicated production base for the company, which currently employs roughly 90 people across Virginia and a research site in Switzerland.

The expansion highlights the deep transatlantic ties within the advanced air mobility sector. Electra relies on European technology for its EL9 aircraft, sourcing the TG600 turbogenerator from France’s Safran and electric motors from the UK-based Evolito. Furthermore, Norway’s Statkraft Ventures is among the company's prominent backers.

The Ohio plant is designed to build the nine-seat EL9, an ultra-short takeoff and landing aircraft. Instead of vertical lift, the plane uses eight electric propellers to generate lift at low speeds, allowing it to take off in roughly 150 feet. A hybrid-electric system combining a turbine-driven generator with four battery packs powers the aircraft, enabling a loaded range of about 330 nautical miles.

Electra aims to capture a share of the regional aviation market by operating from small airfields that conventional jets cannot use economically. The company estimates domestic demand in the United States could eventually reach 16,000 such aircraft. This strategy targets a tenfold expansion of regional air travel, a pitch that has attracted significant investor interest.

The startup raised $115 million in a Series B round in 2025, with backing from Lockheed Martin Ventures, Honeywell, Safran, and Prysm Capital. Electra claims to hold approximately 2,200 letters of intent from over 50 operators, valuing its pipeline at nearly $9 billion. Named customers include Bristow Group, JSX, Blade India, and Surf Air, alongside interest from various US military branches and NASA.

Despite the substantial order book, the full-scale EL9 is not scheduled to fly until 2027. The company has only tested a smaller two-seat demonstrator thus far, though it successfully completed an urban flight in Charleston, South Carolina. Regulatory certification under Federal Aviation Administration Part 23 rules is expected late this decade, with commercial service targeted for 2029 or 2030.

Securing this industrial base in Ohio places Electra in direct competition with rival Joby, which is also scaling production in the state. For European investors and suppliers, the project represents a critical test of whether the advanced air mobility sector can successfully transition from engineering prototypes to mass manufacturing.