In September 2018, Transcend was flying two electric-powered, one-fifth-scale prototypes to evaluate aerodynamics of the vertical and forward flight transition.

[1] By November 2018, Transcend had selected VerdeGo Aero to provide hybrid electric propulsion systems after the turbine version.

[2] The company wants to establish a short-haul scheduled airline between barges in 46 cities like Boston-New York/Washington, San Francisco-Los Angeles/San Diego or Montreal-Toronto, for less door-to-door cost than the combined cost of existing airlines plus ground transport while avoiding paying for an empty re-positioning leg like air charters, but is skeptical about the on-demand model behind urban air mobility.

[1] In August 2023, Transcend Air announced the development of a larger model, the Vy 421, powered by twin CT7-8 engines.

The cabin is larger than a high-performance turboprop single like the TBM 930 with 23 in (580 mm) wide seats and enough leg room for 6 ft (1.8 m) tall passengers, and it would have landing skids not wheels.