Posted By Global Banking and Finance Review
Posted on May 12, 2025
(Reuters) -Vertical Aerospace said on Monday it is developing a long-range hybrid-electric variant of its air-taxi VX4, aiming to expand into commercial markets including defense and logistics.
U.S.-listed shares of the British electric aircraft firm rose more than 6% before the bell.
Vertical's new variant is targeted to have a range of up to 1,000 miles - a tenfold increase from its electric predecessor - and can carry up to 1,100 kilograms, the company said on Monday.
Air-taxi startups are racing to get approvals for electric vertical take-off and landing aircraft on the growing demand for faster urban transportation, while also exploring new commercial applications for the emerging technology.
"The demand for long-range, high-payload, quiet aircraft is growing rapidly - especially across defense and critical logistics," said Stuart Simpson, CEO of Vertical Aerospace.
The move comes after the company announced a new long-term deal with Honeywell last week to help certify key systems for its VX4 air taxi.
Vertical said it intends to commence flight testing of the hybrid-electric variant in the second quarter of 2026, with certification targeted for 2028.
(Reporting by Anshuman Tripathy in Bengaluru; Editing by Vijay Kishore)
