CORRECTED-Airbus-backed tournament unveils first electric racing aircraft

An Airbus-backed air racing tournament unveiled an electric-powered sports aircraft on Sunday, billed as the world's first, as the European planemaker seeks to boost its green aerospace technology.

Several companies, including U.S. ride-hailing company Uber Technologies Inc, are working on electric-powered flying cars, amid increasing concerns about the environmental impact of fossil-fuel intensive air travel. Last month, Airbus rival Boeing announced a partnership with automaker Volkswagen's sports car brand, Porsche, to develop a concept electric flying vehicle capable of transporting people in urban environments.

Air Race E said the aircraft, called White Lightning and unveiled at the Dubai Air Show, will be manufactured by UK-based Condor Aviation. The aircraft will use an electric motor that will carry it at flight speeds of around 482 kilometers (300 miles) per hour on a tight 5 kilometer (about 3 miles) circuit, just 10 meters above the ground.

"The racing series will provide a testbed for innovation and accelerate the journey towards electric commercial travel," Air Race E Chief Executive Jeff Zaltman said. Lithium batteries installed under the fuselage of the plane will provide power for five minutes of high-intensity racing and around 10 minutes of reserve flying at reduced power, the firm said.

Air Race E is aiming to be the world's first all-electric airplane competition when it launches its inaugural series of international races in 2020. It expects to this week name eight teams for its first race.