Pipistrel aircraft history and company background

Pipistrel, an ultralight aircraft manufacturer in Slovenia, has developed a 2-seat electric trainer which represents the next generation of Pipistrel's electric aircraft.
The WATTsUP 2-seat aircraft, developed with Siemens AG, is tailored to the needs of flight schools, featuring short take-off distance, powerful 1000+ fpm climb, and endurance of one hour plus a 30-minute reserve, Pipistrel said in a statement on Sunday.
To save growing cost of fuel in pilot training, WATTsUP is the first practical all-electric trainer, which cuts the cost of ab-initio pilot training by as much as 70 percent, making flying more affordable than ever before. Pipistrel is unveiling the proof-of-concept WATTsUP 2-seat electric trainer at Salon de Blois Airshow, France, on August 30 and 31, 2014, the statement said, adding that Pipistrel expects to bring the final product to the market in 2015 with a target price below 100,000 euros (132,425 U.S. dollars).
Established in 1989, Pipistrel was the first private aircraft producer in former Yugoslavia. Slovenia declared independence from former Yugoslavia in 1991.
Pipistrel, meaning small European brown bat, is well-known for its Sinus/Virus series, which are fast, yet very economic cruise aircraft.
Following its success in renowned NASA Personal Air Vehicle in 2007, and NASA General Aviation Technology in 2008, Pipistrel was again the winner of the 2011 Paris-Madrid Green Air Challenge.
Currently it has exported more than 1,000 Pipistrel aircraft to more than 70 countries worldwide.