Siemens and Airbus sign long-term cooperation agreement in the field of Hybrid Electric Propulsion systems

Airbus Group and Siemens Sign Long-Term Cooperation Agreement in the Field of Hybrid Electric Propulsion Systems

Airbus Group (stock exchange symbol: AIR) and Siemens (stock exchange symbol: SIE) have signed a collaboration agreement in the field of hybrid electric propulsion. In doing so, the Chief Executive Officers (CEO) of both companies, Tom Enders and Joe Kaeser, have launched a major joint project towards the electrification of aviation with the goal of demonstrating the technical feasibility of various hybrid/electric propulsion systems by 2020. Both companies will be making significant contributions into the project and have sourced a team of around 200 employees to advance European leadership in innovation and the development of electrically powered aircraft.