A tripartite intent deal worth $1.75 billion was inked on Tuesday, which states that Shanghai-based Volant Aerotech shall provide Thailand's Pan Pacific Co Ltd with 500 units of electric vertical take-off and landing aircraft (eVTOL), with China National Aero-technology International Engineering Corp being responsible for the low-altitude infrastructure support.

This will mark the largest international single order to date in China's passenger eVTOL sector, according to the company's press release.

The eVTOL purchased will be applied in scenarios including short-distance transportation in or between islands in regions including Thailand and Maldives, as well as emergency and rescue, according to the deal reached during the first International Advanced Air Mobility Expo, which is held in Shanghai starting July 23 through July 26.

"The geography conditions of Thailand and Maldives are extremely ideal for the use of eVTOL, which can greatly improve people's transportation efficiency. With consideration of its products' safety, large cabin space, strong commercial capacity and low operation cost, we decided to partner with Volant to work together on the commercialization of Chinese eVTOL," said Vorachart Petnunthawong, chairman of Pan Pacific, during the ceremony held on Tuesday. Pan Pacific Vorachart Petnunthawong

"The signing highlights China's advanced R&D and competitive edge in the global market, marking a shared commitment with partners to drive China's industries to world-class prominence," said Gao Lei, deputy general manager of China National Aero-technology International Engineering Corp.