Aug. 26 at 3:20 PM
$HOVR Additional comments from Oak Ridge Financial's note on
$HOVR:
"As the operational benefits of hybrid-propulsion continue to be recognized, larger peers have thrown their hats in the ring. For example, Joby (
$JOBY), Archer Aviation (
$ACHR), and Vertical Aerospace (
$EVTL) have all announced plans to develop a hybrid-electric VTOL aircraft within the last year. It is no surprise that hybrid technology is becoming more broadly adopted as it enhances speed, range, cargo capacity, reliability, and safety."
"Although the development of additional hybrid-electric aircraft could increase competition to HOVR, we believe that its proprietary fan-in-wing design will allow the Cavorite X7 to potentially exceed competitive traditional tilt-rotor designs. We believe transitioning from fully electric to hybrid will not be an easy task from both an operational and regulatory standpoint. Thus, HOVR should be in a prime competitive position with its pure hybrid framework."
