- "Mad Money" host Jim Cramer sat down with AeroVironment President and CEO Wahid Nawabi to hear about his defense and commercial drone company's new products.
- Nawabi showed Cramer a new product for the agriculture industry that is available for purchase starting Thursday.
- The $16,500 autonomous drone comes with an app that runs software analytics on its own, the CEO said.
AeroVironment's latest product isn't your regular stocking stuffer.
The $16,500 autonomous drone, available on Amazon starting Thursday, is a product for farmers and others in the agricultural industry, AeroVironment CEO Wahid Nawabi told CNBC.
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"What we've done is we've taken drones and software analytics and turned it into an app," Nawabi told "Mad Money" host Jim Cramer on Thursday. "If you can turn on a tablet, push go, the drone and the software does all the rest. It's fully automatic: take off vertically and transition to horizontal flight, come back and land on its own while you're having a cup of coffee."
The commercial drone, called the Quantix, comes with a one-year subscription to AeroVironment's decision support software, included in the $16,500 price tag.
The supplemental software allows farmers to monitor their crops in order to detect issues and improve efficiency, according to the company's website.
AeroVironment is a leading manufacturer of defense and commercial drones, electric car solutions and other unmanned systems.
Nawabi took pride in the company's defense solutions, one of which is its 10-year-old Switchblade product, a drone that helps the U.S. military monitor its adversaries and can transform into a missile on command.
But AeroVironment is also a quiet leader in the electric car trend, the CEO said. The company's electric car charging product has forged partnerships with nine of the world's top automakers, he told Cramer.
"This represents a significant, large, multi-billion-dollar opportunity for us globally in the years to come," Nawabi said. "It's small, compact, indoor-outdoor, UL-certified, safe, and we are in the leading position in this market for both residential and commercial applications of electric vehicle charging."
Watch Wahid Nawabi's full interview here:
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