A Bristol-headquartered company developing an all-electric 'flying taxi' says the aircraft could be ready for commercial use by 2028 if it secures $700m in funding.
Vertical Aerospace is planning to build a new factory at Cotswold Airport, near Kemble in Gloucestershire, next to its existing flight test centre, where it hopes to produce around 25 so-called VX4 aircraft a year.
It will also expand battery production at its site in Avonmouth, near Bristol, by building a new 30,000 sq ft facility which it says will provide capacity until 2030.
READ MORE: {}
Vertical Aerospace was established by OVO Energy founder Stephen Fitzpatrick in 2016 and is working towards the commercial deployment of electric vertical take-off and landing aircraft (eVTOLs).
The company's VX4 model takes off vertically, like a helicopter, so it can be operated in city centres, and the business claims it will be able to transport passengers from Battersea to Heathrow in just 12 minutes.
The firm is still looking for a 海角视频 site for full-scale production, with a decision expected next year.
Stuart Simpson, chief executive of Vertical Aerospace, said: “Since launching Flightpath 2030, we’ve moved from ambition to execution.
"Piloted flight tests, the hybrid-electric programme, secured facilities, and greater cost visibility have meaningfully de-risked our plan and strengthened our financial outlook.
Most Read
"With the final technical proof point - transition flight - anticipated by year-end, we now have a clear, efficient path to certification and commercialisation at scale, positioning Vertical to lead the next era of electric flight.”
Vertical already has around 1,500 pre-orders of the VX4, with customers across four continents, including American Airlines, Japan Airlines, GOL, and Bristow.
It expects to deliver at least 175 aircraft cumulatively by 2030 - up from previous guidance of at least 150 - with plans to produce 900 a year by 2035.
The company says it is on track to complete transition testing - the final stage of its piloted flight programme - by the end of the year and announced it will begin hybrid-electric flight testing in 2026.
Vertical Aerospace first unveiled its designs for a 'flying taxi' in 2020 and the following year confirmed a merger with special purpose acquisition company Broadstone Acquisition Corp in a deal valuing the company at nearly $2bn (£1.4bn).
In May, the company made European aviation history by successfully piloting a VX4 prototype flight across the 海角视频 countryside.
Like this story? Why not sign up to get the latest South West business news straight to your inbox.