Subsidiary Mahindra Plexion Technologies signed a memorandum of understanding with National Aerospace Laboratories (NAL) at Aero India in February. Joint development and design work on the five-seat aircraft is likely to begin at NAL facilities by mid-2007.
According to preliminary plans, the aircraft would be targeted at the commerical air taxi, cargo and medical evacuation markets with a maximum speed of 150kt (280km/h) and a range of 1,000km (700nm).
Industry sources say the project is expected to cost around Rp700 million ($16 million) in the initial stage. Costs will be shared equally. The developmental phase is scheduled to last three years, followed by certification to US Federal Aviation Regulation FAR 23 standards.
Source: Flight International