Magnumwings Plans ₹200 Crore Expansion for Air Taxi Production
Magnumwings seeks to raise ₹200 crore for expansion and mass production of electric air mobility aircraft. The company is poised to enhance its operations with a new facility, significantly increasing its production capabilities.
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Magnumwings, based in Guntur, is pursuing an investment of ₹200 crore to facilitate expansion and mass production of its electric air taxis and cargo aircraft. The startup, founded by aerospace professional Abhiram Chava, plans to consolidate operations into a single 40,000 square foot facility, potentially in Guntur or the Andhra Pradesh Aerospace & Defence Electronics Park.
Currently, the aircraft models are undergoing mandatory testing, while regulatory approvals from the DGCA, FAA, and EASA are in process. The company anticipates launching cargo vehicles by 2028, followed by passenger air taxis in 2029. With strong government support, the focus is now on securing capital to advance these initiatives.
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