Textron to Acquire Pipistrel in Bid to Position in Electric Airplane Market

The Slovenia-based producer of the Velis Electro will join Cessna, Beechcraft, Bell brands under Textron and will form the core of Textron eAviation.

Julie Boatman

Thursday, March 17, 2022 at 08:16 AM ET

Verified

Pipistrel will form part of the core of Textron eAviation. [Courtesy: Pipistrel]

Key Takeaways:

Textron is acquiring Slovenia-based Pipistrel, a pioneer in electric aircraft development known for its Velis Electro model.
This acquisition aims to position Textron as a leader in sustainable aviation, leading to the formation of a new division, Textron eAviation.
Pipistrel's founder and CEO, Ivo Boscarol, will remain a minority shareholder and serve as a strategic consultant for two years.

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Textron (NYSE: TXT) and Pipistrel captured the attention of the aviation world on Thursday morning with the announcement that the Providence, Rhode Island-based owner of the iconic Cessna, Beechcraft, and Bell aviation brands has “entered into an agreement” to acquire the Slovenia-based Pipistrel.

Pipistrel has pioneered the development and certification of electric aircraft, with its award-winning Velis Electro gaining certification under European Union Aviation Safety Agency (EASA) auspices in June 2020.