Story ID: 
Textron Completes Pipistrel Acquisition
By: Jerry Siebenmark
Caption: Pipistrel becomes part of Textron's new eAviation division.
Word Count: 152
Textron has completed its €218 million ($235 million) acquisition of European electric aircraft manufacturer Pipistrel, giving the Rhode Island-based company a foothold in electric aviation. With the acquisition’s close, Pipistrel becomes part of Textron’s new eAviation division and its branch headquarters, research and development, and manufacturing will remain in Slovenia and Italy. Textron plans to make additional investments in the company to expand its manufacturing and product development.

“With Pipistrel, we have the opportunity to take an already great aircraft manufacturer and make it greater still,” said Textron eAviation CEO Rob Scholl. “We look forward to helping the business achieve its full potential.”

Pipistrel’s Velis Electro is the first electric aircraft to receive EASA type certification. Since its founding in 1989, the company has delivered more than 2,500 light aircraft with both electric and combustion engines. Pipistrel also has hybrid-electric and fully electric aircraft models under development.