Rolls-Royce, a leading British company that manufactures jet engines, is selling off its electric jet engine unit to focus on sustainable aviation fuels (SAF). The CEO, Tufan Erginbilgiç, aims to redirect resources and generate greater value by shifting towards SAF instead of electric engines. This move comes as Rolls-Royce seeks to recover from the impact of the COVID-19 pandemic, which led to job cuts and financial losses. The company plans to invest the proceeds from the sale into its next-gen UltraFan engine, designed to burn less fuel. Rolls-Royce aims to become net-zero by 2050 and believes that SAF will play a crucial role in achieving this goal.
https://electrek.co/2023/11/29/rolls-royce-calls-off-bets-on-electric-planes-says-low-carbon-fuel-is-the-future/