Vertical Aerospace VX4 Air-Taxi Piloted Testing Success and Funding Updates

Vertical Aerospace, a UK-based company, has successfully concluded the initial stage of piloted testing for its air-taxi, VX4. This achievement, announced on Thursday, resulted in a 3.9% rise in the company’s shares during U.S. premarket trading. The VX4 has garnered 1,500 pre-orders totaling $6 billion from prominent companies such as Virgin Atlantic, American Airlines, and Japan Airlines. The first phase of testing encompassed various piloted tethered flights and ground operations, validating its safety across 70 individual test points in real-world flight scenarios. Moving forward, the company is gearing up for phase two testing, focusing on vertical take-offs and landings, along with low-speed flight maneuvers utilizing propeller-generated lift. Established in 2016, Vertical is dedicated to developing the VX4 as a four-passenger electric vertical take-off and landing (eVTOL) aircraft. Positioned among a select group of eVTOL manufacturers revolutionizing urban transportation, the company faces challenges related to regulatory compliance, battery technology advancements, and public perception regarding aircraft safety. Concurrently, some eVTOL developers are in need of funding to sustain testing efforts and establish production facilities. Founder Stephen Fitzpatrick’s delay in fulfilling a financial commitment, as reported by Bloomberg, raises concerns about Vertical’s financial stability by March 2025 if the funds are not secured. Despite this, ongoing discussions with Stephen are underway, emphasizing his continued support for the company. In the initial half of the year, Vertical secured funds, including additional support from Rolls-Royce, bolstering its cash reserves to $84 million as of June 30, as per the company’s announcement.