Electric vertical takeoff and landing (eVTOL) developer Overair has shared details of a successful trip to South Korea that birthed three new partnerships to advance the country’s advanced air mobility (AAM) goals. Along with its new strategic partner Hanwha Systems, Overair has a letter of intent for a purchase of 20 Butterfly aircraft and more.
Overair is an AAM specialist based in Santa Ana, California, that was spun out of Karem Aircraft in 2020. Its team combined decades worth of aerospace experience to develop its flagship eVTOL called the Butterfly, which originally debuted in 2021.
The Butterfly’s current design can carry five passengers plus a pilot, or 1,100 pounds of cargo, and it can reach a top speed of 200 mph – all while traveling about 100 miles on a single charge. Overair hopes to bring this eVTOL to production, where it can serve as alternative transportation to congested metropolitan areas like Los Angeles.
In fact, Overair continues to work alongside Urban Movement Labs (UML) to create a safe, equitable, and sustainable path to eVTOL transportation on its native West Coast.
While Overair continues to develop its eVTOL technologies toward flights in the US, following a fresh round of funding in June of 2022, the company is setting its sights on a new market – South Korea. So far, it has found some early suitors.
Credit: Overair
Overair looks to Korea to get its eVTOL’s in the air
According to the company, it signed a letter of intent as well as two memoranda of understanding (MOU) with key partners in Korea to accelerate the nation’s AAM goals. Those signings took palace this week during the Seoul International Aerospace and Defense Exhibition (ADEX), which was attended by defense officials from over 57 countries around the globe.
Joining Overair at the exhibition was Hanwha Systems – an expert in urban air traffic management (UATM), software management systems, navigation, surveillance, and information hardware, who signed its own MOU with Overair and the self-governing Jeju Province of South Korea earlier this month.
This week’s signings included a letter of intent from HeliKorea for the purchase of 20 Butterfly eVTOLs to be used for medical, executive, and cargo transport, in addition to firefighting, high-voltage power line inspection, and other applications. Overair says it intends to provide eVTOL pilot and maintenence training if and when those Butterfly aircraft are delivered overseas.
Overair also announced a signed MOU with South Korean convergence specialist Daewoo Engineering & Construction. Together, the companies plan to develop a series of AAM networks across East South Asian markets, establish local vertiport sites, and work alongside government authorities to establish regulatory frameworks necessary for commercial AAM operations.
Lastly, Overair also signed an MOU with the Korean Police who look to integrate eVTOL technologies into the agency. Together, the new partners intend to develop and implement AAM operational training, including vertiport integration, pilot training, maintenance, and community education. Overair CEO Ben Tigner spoke to the company’s latest partnerships:
Overair is committed to supporting South Korea’s strong AAM ambitions through partnerships like these that ensure all facets of the ecosystem are considered. Local governments, operators, and infrastructure providers alike will play an integral role as we enter this new era of transportation. We look forward to collaborating with our partners at Hanwha Systems on these exciting new projects, which will bring real benefits to the communities they impact and provide a solid foundation to further AAM adoption across Southeast Asia.
To date, Overair has completed eVTOL propulsion testing, but has yet to deliver its first aircraft. The company states its full-scale prototype is in the final assembly process and flight tests are expected to begin in 2024.
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Waymo has poached a top Tesla audio engineer to lead the In-car Audio and Infotainment experience inside its autonomous vehicles.
Tesla and Waymo have a sort of rivalry as they are both working toward deploying autonomous driving systems.
Earlier this year, there was a little back and forth about having the biggest service area in Austin, even though the competition was sort of unfair since Waymo has been opreating a true level 4 autonmous driving system in the Texas capital while Tesla’s Robotaxi system is still being supervised by employees inside the vehicles.
Now, we learn that Waymo has poached Nikhil Satish, a top audio engineer from Tesla.
He announced on LinkedIn last week:
I’m happy to share that I’m starting a new position as Technical Leader of Audio Systems at Waymo!
Satish already had an extensive career in audio engineering with NVIDIA and Amazon before joining Tesla in 2021.
At Tesla, Satish led the audio engineering of the Cybertruck, which has been praised for its audio system.
The company even noted it yesterday:
More recently, he also led audio engineering on Tesla’s semi truck and humanoid robot programs, according to his LinkedIn profile.
Now, he will be the technical lead for in-car audio and infotainment experience at Waymo.
While Waymo’s core technology is autonomous driving, the audio and video experience is expected to be increasingly important as passengers can put their attention toward other things than driving.
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GM is suddenly shaking up electric vehicle production plans after issuing a stark warning. The automaker warned that new US policy changes, including killing off the $7,500 EV tax credit, will cost it at least $1.6 billion.
GM shifts plans as the EV tax credit expires
Although GM set another record by delivering 66,501 electric vehicles in the third quarter, it’s bracing for a much different market over the next few months.
In an SEC filing on Tuesday, GM said that “following recent US Government changes, including the termination of certain consumer tax incentives for EV purchases and the reduction in the stringency of emissions regulations, we expect the adoption rate of EVs to slow.”
Although it didn’t reveal specifics, GM said the policy changes “have caused us to reassess our EV capacity and manufacturing footprint.”
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The changes do not impact Chevy, GMC, and Cadillac electric vehicles currently in production, and GM expects they will remain available for buyers.
The “strategic realignment” will cost it at least $1.6 billion. GM said $1.2 billion of the charges will be non-cash as it adjusts EV capacity. The other $400 million is primarily due to contract cancellation fees and “commercial settlements associated with EV-related investments,” according to GM’s filing. That will have a cash impact.
2025 Chevy Equinox EV LT (Source: GM)
GM is also reassessing investments in battery manufacturing. The company said discussions are still ongoing, adding that it’s “reasonably possible” it will absorb additional costs due to the changes.
The charges, which were approved by the board on October 7, will be included in GM’s third-quarter earnings. We will learn more when GM reports Q3 earnings results next week on October 21.
Cadillac Optiq EV (Source: Cadillac)
Although GM and crosstown rival Ford were planning to launch programs designed to extend the $7,500 EV credit, both have since abandoned those plans. Instead, GM will provide about $6,000 of its own cash for a limited time to support EV leasing.
Electrek’s Take
Through the first nine months of 2025, GM sold 144,688 EVs, more than double the amount it sold in the same period last year.
The Chevy Equinox EV has been GM’s biggest hit, ranking as the third best-selling EV behind the Tesla Model Y and Model 3. Cadillac was the leading EV luxury brand in Q3 with three of the top 10 most popular models in the segment: the Lyriq (#2), Optiq (#5), and Vistiq (#6).
GMC is on pace for its best year ever, with the new Sierra EV rolling out and demand for the Hummer EV picking up. With the $7,500 EV tax credit now expired, GM, like most automakers, is preparing for slower EV adoption in the US.
The policy changes, including dropping the $7,500 tax credit, will only put the US further behind China, South Korea, and others leading the global push for electric vehicles.
We should learn more about GM’s updated EV production plans next week when it reports Q3 earnings on October 21. Check back for updates.
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What if your morning commute didn’t involve gridlock on the 395 or the Orange Line crawl, but instead meant silently flying over the Potomac River at 30 knots? That’s exactly what Stockholm-based Candela is bringing to Washington D.C. this week with the U.S. demo debut of its flying electric boats.
While it doesn’t appear to be a permanent route nor make use of the company’s latest flagship commercial vessel, the P-12 shuttle, the demonstration set up near the Swedish embassy will illustrate just how effective the alternative commuting method truly is.
Starting October 17th, Candela will be showcasing media test rides on the Potomac using its C-8 flying vessel to demonstrate how its revolutionary electric hydrofoil ferry – the Candela P-12 – could transform city commutes. With wings hidden beneath the water and a high-tech flight controller regulating the ride, the P-12 lifts out of the water and literally flies above the surface, reducing drag by 80% and gliding without creating a wake.
The demonstration underscores how this level of speed and efficiency could actually change how people move around the D.C. metro area. A typical commute from Georgetown to Reagan Airport? By car, that’s around 20 minutes. On public transit, 37. On the P-12? Just six minutes. Similarly, a water ride from Alexandria to The Wharf would be a quick and quiet 10-minute journey – likely faster than your rideshare app can even find a driver during rush hour.
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The Candela P-12 is more than just a speedy commuter; it’s also quiet, clean, and surprisingly comfortable. Its computer-controlled hydrofoils make for a ride that’s smooth enough to prevent seasickness, and the onboard C-POD electric motor hums along with no noise or vibration. With no slamming into waves and no diesel fumes to choke on, the whole thing feels more like riding a luxury train than a boat.
And while this might sound like the kind of futuristic tech you’ll hear about once and never again, Candela is already proving this model works. In Stockholm, the P-12 has already been integrated into the city’s public transport system, where it’s cut some routes’ travel times in half and delivered a quieter, cheaper, and greener commute. Similar projects are in the works for Lake Tahoe, Mumbai, Thailand, and Saudi Arabia – with more than 40 boats already on order, making it the best-selling electric passenger vessel in the world.
Candela says operating costs are about 60% lower than diesel-powered vessels, which puts them in line with land-based mass transit options like buses. In cities like D.C., where shoreline erosion and speed restrictions limit traditional ferries, the P-12’s wake-free cruising means it can get exemptions and run at high speeds even in no-wake zones. That opens up a whole new layer of transport.
“We’re not merely replacing diesel ferries — we’re enabling a new layer of transport by utilizing the underused waterways,” said Gustav Hasselskog, Candela’s founder and CEO. “We’re already in discussions with several U.S. companies that see the potential of using flying electric vessels to bypass congestion.”
The Washington D.C. demo is timed to coincide with the Swedish Green Transition Summit, a forum focused on sustainable innovation, and will run through October 23rd from a launch site adjacent to the Swedish Embassy. It’s part marketing, part diplomacy, and part real-world proof of concept that urban waterborne transit doesn’t have to be slow, loud, or dirty.
For a city surrounded by rivers and plagued by congestion, Candela’s pitch is clear: don’t pave more roads – just fly over the water. If the P-12 delivers in D.C. the way it has in Sweden, this could be the start of an entirely new commute for many more U.S. cities.
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