Stock Track | Beta Technologies Soars 5.30% After-Hours as Government Selects It for Key eVTOL Pilot Program

Stock Track

03/11

Shares of Beta Technologies Inc. surged 5.30% in after-hours trading on Tuesday, extending gains from the regular session.

The sharp move followed news that the company is the primary beneficiary of a new federal government initiative. The U.S. Department of Transportation and the Federal Aviation Administration announced the selection of eight proposals for the Advanced Air Mobility and Electric Vertical Takeoff and Landing (eVTOL) Integration Pilot Program (eIPP).

Beta Technologies was selected for seven of the eight pilot projects, which include air taxi, cargo transport, and medical transport operations across several states. Analysts noted that the company's industry-leading flight experience and diverse use cases positioned it as the big winner from the program, which is designed to accelerate the real-world testing and integration of eVTOL aircraft into the national airspace.

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