credit to: peliROJO for the find.
DETROIT, Michigan -- Japanese automaker Honda has said it is entering the corporate jet business with a line of aircraft manufactured in the United States.
The bright blue-and-white, seven-seat HondaJet was revealed at the annual air show in Oshkosh, Wisconsin, late Tuesday morning, one year after making its debut at the same show.
The jet will have a wing-mounted engine design that promises better fuel economy.
The HondaJet can travel up to 415 mph (667 kph), the company has said.
Tokyo-based Honda would be creating a new U.S.-based company in hopes of gaining "FAA-type certification" in three to four years, the company said.
But the jets will be available for purchase by this [northern hemisphere] autumn.
Piper Aircraft will enter into an alliance with Honda to sell the HondaJet line to U.S. customers.
The jet would compete in the market for an emerging class of very light passenger jets priced at under $4 million, The Associated Press reports.
In 2004, Honda and GE formed a strategic alliance making lightweight corporate jet engines.
Honda is best known for its motorbikes and cars, but has been working on its aircraft project for the past two decades, AP reports.
Very light jets have a limited range, but proponents say their lower acquisition and operating costs will sharply reduce the cost of private jet travel, opening that up as a choice for regional travel to a far broader market, AP reports.
But HondaJet is entering a crowded market, according to AP.
Albuquerque, New Mexico-based Eclipse Aviation is very near U.S. certification of its Eclipse 500 and Adam Aircraft, Textron Inc's Cessna and Brazil's Embraer SA, have rival aircraft in various stages of development and testing, AP reports.