Heart Aerospace, a Swedish startup, is moving its headquarters from Gothenburg to Los Angeles, resulting in the layoff of all 75 employees in Sweden. The move aims to bolster product development for their hybrid-electric airliner, ES-30, with its first prototype set to fly later this year. The decision is viewed as indicative of broader issues in Europe's tech landscape, including over-regulation. The company has raised nearly $200 million, with its leadership emphasizing that the consolidation will enhance collaboration and innovation in a more favorable market environment.
"Every move like this reinforces the narrative that the US is the better place to build - that's a problem for Europe."
"By consolidating our operations in Los Angeles, we can accelerate development, strengthen collaboration, and better position Heart Aerospace for the future."
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