California-Based AIBOT Secures $15 Million Grant, Propelling Innovation in AI-Defined eVTOL Aircraft for Advanced Air Mobility

AIBOT, a California-based company specializing in AI-defined electric vertical take-off and landing (aiEVTOL) aircraft and ecosystem, has been awarded a $15 million grant from the California Competes Grant Program. This substantial endorsement from the California Governor’s Office of Business and Economic Development (GO-Biz) marks a significant milestone for AIBOT and the growing electric vertical take-off and landing (eVTOL) sector.

Jerry Wang, Executive Chairperson of AIBOT, expressed gratitude for the grant: “We are deeply grateful for this significant CalCompetes grant from the State of California. Receiving this grant is a powerful endorsement of our mission and potential. We’re ready to utilize this opportunity to fortify our role as an ultra-high-tech leader in the Advanced Air Mobility sector, making substantial contributions to California’s economy and job market.”

The California Competes program, which received over $1.8 billion in grant requests this year for the $120 million available, aims to support innovative companies looking to expand or establish their presence in California, promoting job creation and economic development. AIBOT’s selection as one of only eight recipients, with two being eVTOL companies, highlights the importance of eVTOL technology in driving California’s commitment to innovation and sustainability. The grant not only demonstrates the state’s vision of being a leader in the Advanced Air Mobility (AAM) sector but also affirms its dedication to fostering cutting-edge industries that promise a more sustainable and technologically advanced future.

Dee Dee Myers, Senior Advisor to Governor Newsom and GO-Biz Director, emphasized the state’s commitment to being a leader in the industry, saying, “Advanced air mobility is an industry of the future, and we want to ensure California remains a leader in that industry. We look forward to AIBOT’s success as they build out their company and continue to grow their presence across California.”

Assemblymember Josh Lowenthal, representing California’s 69th District, praised AIBOT’s innovative approach, stating, “AIBOT’s selection for the CalCompetes Grant is a resounding vote of confidence in their innovative approach and groundbreaking technology. Their commitment to creating a sustainable and interconnected future aligns perfectly with California’s economic and environmental goals, and I’m excited to see how their expansion will energize Long Beach and the surrounding communities.”

The $15 million grant signifies AIBOT’s significance in advancing aerial mobility in California, with plans to create 697 new full-time jobs and invest $494 million in capital over the next five years. Focused on centralizing operations in California, particularly in Long Beach and Mojave, the grant will enhance AIBOT’s research and development capabilities, flight testing, and manufacturing. The strategic alignment of flight testing with prototyping and manufacturing facilities is a key component of AIBOT’s approach to innovation, accelerating the company’s endeavors in developing advanced artificial intelligence (AI) software and producing AI-defined autonomous electric aircraft.

Jerry Wang added, “The grant will allow AIBOT to bring its flight testing and manufacturing to California while enabling fast-tracking the production of our first commercialized aiEVTOL product which includes local investment to build manufacturing facilities and create numerous job opportunities. This endorsement by GO-Biz is an affirmation of the confidence placed in AIBOT’s vision, our technological prowess, and our growth strategy in California.”

Mayor Rex Richardson of Long Beach commented: “I’m delighted that Long Beach’s AIBOT was awarded a $15 million CalCompetes Grant, recognizing their green innovation and technological leadership. This supports our city’s economic growth and sustainability vision, and I’m proud of their contribution to our community.”

Reflecting on AIBOT’s CalCompetes journey, Tommy Xie, AIBOT Assistant Treasurer and grant project owner said: “I am filled with gratitude, and I have immense appreciation for the unwavering support and guidance of the CalCompetes team over the past three months. I also want to give special acknowledgment to our dedicated team. This achievement is indeed a proud moment for AIBOT.”

In early 2024, AIBOT is set to host an exclusive company debut event at its Long Beach headquarters, introducing its groundbreaking technology, products, and comprehensive business plan to invited guests. This event will set the stage for a landmark moment later in the year, as AIBOT plans to unveil its first commercial unmanned aiEVTOL aircraft, designed to serve a variety of industries including cargo, agriculture, high-speed inspection, and medical deliveries.

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