GREENSBORO, NC-Honda Aircraft Co. is now taking orders for it new HondaJet, the latest entry in the growing "very light jet" market. The six-passenger aircraft is set to go into production in 2010 and costs $3.65 in its standard configuration.

"A passion for aviation propelled HondaJet into the air, but a strong business case is what is taking it to the customer," says Takeo Fukui, president of parent company, Honda Motor Co. (Tokyo). "In every one of our business activities, our goal is to create new value for the customer."

The jet, which is the product of Honda's first foray into the aviation market, has a cruising speed of 420 knots and a range of 1,180 nautical miles. Among other innovations, the aircraft features an over-the-wing engine mount configuration, which frees up additional space for fuel. It is also equipped with an all-composite fuselage, which reduces weight and increases fuel efficiency.

Honda plans to manufacture the aircraft somewhere in the United States, with a projected production capacity scheduled to eventually reach 70 jets per year.