Rolls-Royce takes wraps off mid-term financial targets
Rolls-Royce unveiled its mid-term financial targets on Tuesday, aimed at ushering in a significant transformation in its performance.
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Rolls-Royce unveiled its mid-term financial targets on Tuesday, aimed at ushering in a significant transformation in its performance.
The engine manufacturer set out new medium-term targets on Tuesday.
Rolls-Royce is being awarded HUF 1.7 billion in state funding to support research and development that will advance all-electric and hybrid-electric aviation. The grant from the Hungarian Investment Promotion Agency and Ministry of Foreign Affairs and Trade will also support the creation of 20 engineering jobs based at the R&D facility in Budapest.
Current battery technology is not cost-effective for commercial flight operations due to useful life limits, according to Tecnam and Rolls-Royce.
Rolls-Royce's investment is bringing the development of pioneering equipment to Hungary to continue its research and development programs.