Horizon Aircraft (HOVR) Partners With Motion Applied to Advance Cavorite X7 Program

New Horizon Aircraft Ltd. (NASDAQ:HOVR) is one of the 10 Best New Penny Stocks to Invest In. On December 4, New Horizon Aircraft Ltd. (NASDAQ:HOVR) announced that it has entered into a partnership with Motion Applied, which was previously the high-performance technology division of the McLaren Group from Formula 1.

Under this partnership, Motion Applied will design and manufacture a customized motor drive inverter for New Horizon Aircraft Ltd.’s (NASDAQ:HOVR) hybrid-electric VTOL, the Cavorite X7. This system will help improve power efficiency and reduce weight in the aircraft’s vertical lift system. Through its world-famous pedigree and capacity for on-site design, manufacturing, and testing, Motion Applied will support the company’s work towards building its full-scale prototype and moving forward with its certification program.

According to the report by New Horizon Aircraft Ltd. (NASDAQ:HOVR), the Cavorite X7 will utilize Motion Applied’s MCU-X platform and feature a custom air-cooled silicon carbide motor drive inverter, which will convert direct current from the onboard batteries into alternating current to power the electric motors.

This advanced system is expected to weigh under 3 kilograms and is designed to deliver faster and more efficient power transfer while requiring less cooling by leveraging silicon carbide technology. It will be designed to improve overall aircraft efficiency, power density, and range for a hybrid-electric VTOL like the Cavorite X7.

New Horizon Aircraft Ltd. (NASDAQ:HOVR) is an advanced aerospace engineering company developing the Cavorite X7, a hybrid-electric Vertical Takeoff and Landing (eVTOL) aircraft designed to fly like a conventional plane but with VTOL ability.

While we acknowledge the potential of HOVR as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 13 Best Gold Mining Companies to Invest In Now and 13 Best Fast Food Stocks to Buy.

Disclosure: None. This article is originally published at Insider Monkey.