Magnus Aircraft presented its Magnus Fusion aircraft at the Taihu Bay Wuxi Low-Altitude Economy Innovation and Development Conference at the weekend.
The aircraft could contribute to the achievement of China’s low-altitude economy goals, it said. Its modern technology, safe operation and the composite materials used attracted special attention, it added.
CEO László Boros said Magnus Aircraft’s Chinese plant is expected to start production next spring.
It was earlier reported that composite, aircraft assembly and maintenance units as well as a development base established in partnership with the University of Óbuda would be built in Wuxi.
The Chinese-Hungarian JV, Jiangsu Magnus Aircraft Manufacturing, is expected to create 300 jobs. Within 10 years, Magnus Aircraft expects to turn out several thousand two- and four-seater aircraft at the base, mainly for the Chinese market, but also for markets in Iran and Africa.
Magnus Aircraft had net sales revenue of HUF 161m in 2023. It projects revenue of HUF 3bn this year and HUF 6bn in 2025.
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