Government Investigates Chinese Investment In ICON

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ICON Aircraft is under investigation by the Committee on Foreign Investment in the U.S. (Cfius) after a complaint by a group of minority investors who claim the hefty stake in the company by a Chinese company could lead to a technology transfer with military applications. ICON said in a statement last week that the claims are actually a bid by former CEO and company founder Kirk Hawkins to regain control of the company. Hawkins was sacked by the board of directors after the Chinese company, Shanghai Pudong Science and Technology Investment Co., accumulated 47 percent of the shares in the company. Hawkins kept his seat on the board of directors, however.

In their request to Cfius, the shareholders claim the company’s only airplane, a light amphibian marketed as a recreational aircraft, could be turned into a military drone and that its manufacture involves “technology and advanced materials and aerospace manufacturing capabilities” that “should not be allowed to fall into the hands” of China, according to Forbes. ICON rejected the claim, saying “the plane is loaded with stylistic and safety features that make the plane wholly unsuited for military application.” ICON also said the Chinese company was invited by Hawkins to invest in the company and he didn’t have those national security concerns at that time. ICON said it is cooperating with the government investigation.

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8 COMMENTS

    • The enemy has certainly infiltrated America. China, Russia, N Korea et al – but not in traditional ways. Social media bots spewing crap to divide our nation. None of us doing research on crap we see online – instead just taking it as face value. Forgive for going off topic but it seems any article AvWeb puts out has the potential for become an indictment on whatever administration happens to be in power. We’re just silly and we’re going to get our asses handed to us while we bicker. Congrats on being so right

  1. This is rich! Yes, we must investigate whether Icon has shared with China its recipe for carbon fiber and rigging techniques for rotax engines while ignoring a member of the US Senate who employed a Chinese spy for 20 years as her personal driver and the congressional intelligence committee member who was having an affair with another Chinese spy (remember fang-fang?). Yep, make sure those plans for the fiberglass molds Icon has don’t fall into the wrong hands!!!!

  2. All I know is that the plane looks really cool, and there’s no way I’m ever buying one. I have a crazy dream where ChiCom ownership of so many aircraft companies leads to changes that allow us all to get cheaper parts. Fight fire with fire.