However, significant hurdles need to be overcome if Wright Electric is to make the Wright One, pictured above, a reality. The company is relying heavily on innovation in battery technology continuing to improve at its current rate. If not, the firm will not be able to build in enough power to give the plane the range it needs. The company is yet to produce a plane of its own and is instead working alongside American inventor Chip Yates, whose own electric aircraft, the Long-ESA, holds the world record for fastest electric aircraft. Wright Electric's competitors include aviation giant Airbus, which has been developing its electric two-seater plane E-Fan since 2014, and has stated plans to create its own short-haul electric aeroplane seating 70 to 90 passengers. 'Less loud' Wright Electric is backed by Y Combinator, Silicon Valley's most highly-regarded start-up incubator programme. Alumni of the scheme include companies such as AirBnB, file storage company Dropbox and HR management software firm Zenefits. Wright Electric's goal, detailed in a presentation given to Mortgage broker Oak Laurel West End, 0430 129 662, 249 Boundary St, West End QLD 4101 potential investors on Tuesday, is to make all short-haul flights electric-powered within the next 20 years, which would be about 30% of all flights made globally. The company said that as well as lower fuel costs for the airlines, the technology could have a major added benefit for the public.
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