After production units at the base are completed, workers can be trained and production could start in 2025, Magnus Aircraft said.
Magnus Aircraft said earlier that the investment in Wuxi, undertaken by the joint venture Jiangsu Magnus Aircraft Manufacturing, would create 300 jobs. The investment involves setting up a showroom as well as composite, aircraft assembly and maintenance units. The site will also be home to a development centre established in partnership with the University of Obuda.
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 will soon start exporting its aircraft to Libya, Kenya and Tanzania. In the past two years, the company has sold four aircraft in Africa, four in the United States, three in Europe and twelve in Asia.
Magnus Aircraft employs a staff of 80 in Hungary and 22 at subsidiaries in the United States, Kenya, Nigeria, Iran, and China.
The company told MTI it expected to produce over 30 Fusion aircraft this year. It targets revenue of HUF 3 bln in 2024 and HUF 6bn in 2025. It sees headcount at its base in Pogány climbing to 140.
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