The Indian electric aircraft startup, ePlane Company, has signed a non-binding agreement to supply 788 electric vertical takeoff and landing (eVTOL) air ambulances to ICATT, an air ambulance service provider.

The deal, which is valued at over US$1 billion, aims to enhance emergency medical service access in various districts across India.

Under the agreement, ePlane plans to use eVTOL aircraft that are battery-operated and capable of vertical takeoff and landing.

ePlane intends to start production at a rate of 100 units per year.

The goal is to launch commercial operations by late 2026.