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Diamond Aircraft Industries will invest CNY 200 million to build a factory in Shandong province, China, to produce 220 general-purpose aircraft per year. Construction is expected to take seven months.
Wanfeng Aviation, owner of Diamond Aircraft, agreed with Wolong Electric Drive Group to develop electric aviation technology, focusing on magnesium alloy in motors for aircraft.
Canada-based Wanfeng Aviation, part of China's Wanfeng group, acquired a 60% interest in Diamond Aircraft Industries. The investment will fund expanded production, sales and service globally.
| Site | Largest | Latest |
|---|---|---|
| Shandong province, China | $30.9M | 2021-06-22 |