Mitsubishi Heavy Pulls Pin on Regional SpaceJet Aircraft Project
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Mitsubishi Heavy Industries Ltd. finally ended the development of its SpaceJet aircraft — a domestic short-haul jet that was to supply local carriers including ANA Holdings Inc. — after spending hundreds of millions of dollars on the project.
Tokyo-based Mitsubishi Heavy lacked the understanding and technological know-how for SpaceJet to materialize, Chief Executive Officer Seiji Izumisawa said at a briefing Tuesday. Growing pressure to electrify and decarbonize, among other factors, forced the manufacturer to reassess its strategy, he added.