Vertical Aerospace has delayed certification and service entry for its VX4 electric air taxi by another two years, even as it advances flight-test activities and plots future upgrades.
UK-based Vertical does not offer precise reasons for the latest slippage, disclosed as part of a wider business update, including the launch of “Flightpath 2030” – its strategy for market leadership before the end of the decade.
Previously the electric vertical take-off and landing (eVTOL) developer had targeted late 2026 for certification and service entry, milestones that were a delay over the company’s original 2025 goal.
But Vertical now says it plans to achieve UK certification in 2028, leading to the “first major upgrade in 2030”, likely to allow a capacity increase.
“While the current prototype seats four passengers, its cabin width and robust powertrain enable the potential to accommodate six passengers and extend its range with minimal adjustments to the design or certification requirements,” says Vertical.
Such an operating improvement would seem to hinge on the development of more advanced batteries, although Vertical offers no detail on how it would be achieved.
Additionally, Vertical continues to make progress with testing of the VX4, advancing to piloted, untethered flights of the latest prototype.
Performed at Kemble airfield in southwest England, the thrust-borne flights mark the start of the second phase of Vertical’s flight-test programme. Tethered flights of the new prototype were completed in September.
The flights – thought to have begun in early November – were made possible by the extension of the company’s Permit to Fly from the UK Civil Aviation Authority.
Vertical plans a four-step test programme: Phase 3 involves wing-borne flight, while Phase 4 covers the crucial transition phase – a milestone it expects to achieve next year.
A second identical prototype is currently in final assembly and is due to fly in 2025; its arrival will allow the acceleration of flight testing, Vertical says.
Next year, the firm also intends to carry out full-scale piloted flights “demonstrating real-world use cases”.
Both the latest test assets feature substantial improvements over an earlier example that was written off in a flight-test accident in August 2023.
Meanwhile, under the Flightpath 2030 plan, which “sets a clear route for the company’s journey from prototype to production”, Vertical intends to deliver at least 150 VX4 aircraft by the end of the decade.
Production output will be ramped up to more than 200 units annually by the end of 2030, it adds, “with plans to scale up to greater than 700 units per year in the medium-term”.
Stuart Simpson, Vertical chief executive, adds: “This is a transformational moment for Vertical as we advance from prototype to production. Since I became CEO, I’ve been clear that I want Vertical to lead – not just compete in – the eVTOL sector.
“The strategy and goals we are unveiling today provide a new level of detail on how exactly we intend to get there – the best team, delivering the safest and most versatile aircraft, with the most compelling business model in the industry.”
Vertical forecasts that cash break-even will be achieved in 2030 and gross profit margin is “expected to build to >40% in the following years”.
However, Vertical still has an acute short-term funding need: as of end-September, it held cash and cash equivalents worth £42.8 million ($57.4 million), against expected capital expenditures over the next 12 months of around £80 million.
“Discussions are ongoing regarding potential third-party investment. Vertical is optimistic that these discussions will result in a transaction that will provide funding further into 2025 and facilitate future fundraising opportunities,” it says.
“In parallel, Vertical continues to explore all alternative options available with respect to its funding needs.”
Talks had taken place over the weekend of 9-10 November between Vertical’s biggest creditor, Mudrick Capital, and founder and the firm’s largest shareholder Stephen Fitzpatrick over a potential $75 million injection. However, the result of those talks is unclear.
In January, Fitzpatrick promised to provide a total of $50 million to Vertical, although only half the total has been received.
