ARIZONA NEWS

Drone maker RapidFlight purchases IP portfolio of Chandler’s shuttered Local Motors

Jul 15, 2023, 5:00 AM

RapidFlight's M2 is supported by advanced additive manufacturing techniques. (RapidFlight Photo)...

RapidFlight's M2 is supported by advanced additive manufacturing techniques. (RapidFlight Photo)

(RapidFlight Photo)

Virginia-based unmanned aircraft maker RapidFlight LLC said this week it has acquired the intellectual property portfolio of shuttered Chandler company Local Motors.

Terms of the deal were not disclosed.

Local Motors ceased operations in early 2022. The company specialized in open-source motor vehicle designs and developed its portfolio of transports using 3D printing. For a time, Local Motors had a showroom at National Harbor in Prince George’s County, Maryland, where it piloted its self-driving bus called the Olli.

RapidFlight, based in Manassas, Virginia near Washington, D.C., develops military drones using 3D printing. It was founded in 2021 by unmanned aerial systems expert Jay Grundlach and is backed by the New York private equity firm Tracker Capital. It announced plans for an expansion in Manassas last year.

This story is posted in partnership with Phoenix Business Journal. Click to read the full story.

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Drone maker RapidFlight purchases IP portfolio of Chandler’s shuttered Local Motors