/R E P E A T -- Media Advisory - CAE s FY2021 virtual Annual Meeting of Shareholders and FY2022 first quarter financial results conference call/
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Media Advisory - CAE s FY2021 virtual Annual Meeting of Shareholders and FY2022 first quarter financial results conference call
prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.
CAE Inc. investing $1 billion into research and development alongside government
Business Related
Yes
CAE corporate headquarters are shown in Montreal on August 10, 2016. A Canadian aviation company says it is investing $1 billion into innovation as part of a partnership with the Canadian and Quebec governments. CAE Inc. say the funding will go toward developing artificial intelligence and data solutions to be used in civil aviation, defence & security and healthcare. THE CANADIAN PRESS/Graham Hughes
A Canadian aviation company says it is investing $1 billion into innovation as part of a partnership with the Canadian and Quebec governments to position it as a global leader in its field.
The Canadian government is contributing $190 million and the Quebec government $150 million.
It s part of the company s five-year research and development plan dubbed Project Resilience, which could also see CAE produce green technology for light aircraft.
The funding will also go towards developing simulation technology, and to develop electric aircraft that can take off and land vertically. With advanced air mobility, we are on the cusp of a new era of aviation, said Marc Parent, CAE s president and chief executive officer. Disruptive aerospace companies are building cutting edge aircraft and creating a new sector within the industry from the ground up. We are investing to position CAE to be one of the leaders in defining this emerging industry.