Ahead of its anticipated public debut on the stock market, U.K.-based Vertical Aerospace late last week publicly debuted a full-scale model of its electric vertical takeoff and landing (eVTOL) aircraft.
In a tweet, the company said, “We’re excited to reveal our new full-scale #eVTOL model, a glimpse into the future of Vertical.” Dubbing it the “VX4,” the company said the aircraft was designed in partnership with Rolls-Royce and Honeywell. (A previous design displayed on its website had been referred to by Vertical Aerospace as the “VA-X4.”)
Introducing the VX4— Vertical Aerospace (@VerticalAero) December 9, 2021
We’re excited to reveal our new full-scale #eVTOL model, a glimpse into the future of Vertical
Working with leading partners like @RollsRoyce & @Honeywell_Aero we’re on a journey to change the way the world travels, and we hope you’ll join us #MeetTheVX4 pic.twitter.com/oKUQbKdlYp
According to Vertical, the aircraft would be a 200 mph, single-pilot, four-passenger eVTOL with a noise level 100 times quieter than a helicopter in cruise. The company says it will have a range of more than 100 miles.
Vertical has said it hopes to have the aircraft type certificated by 2024 with Heathrow Airport in London serving as an infrastructure launch partner.
The news comes just days before Vertical is expected to merge with special purpose acquisition company Broadstone Acquisition Corp. (NYSE:BSN) on Tuesday, when shareholders are scheduled to vote. The combined company could go public on the New York Stock Exchange as early as Thursday and would be listed as “EVTL.”
If approved, Vertical will become the fourth eVTOL company to go public this year, all using SPACs. The others are Joby, Archer, and Lilium.
In June, Vertical announced it would go public in a deal valued up to $2.2 billion, bolstered by a robust list of more than 1,350 pre-orders totalling $5.4 billion, with the deal potentially yielding proceeds upwards of $394 million. But it’s unclear just how much Vertical will net, as its competitors saw disappointing results in their own mergers this summer.
Vertical’s announcement is just the latest development in the emerging eVTOL industry—aimed at creating small, hovering, zero-emissions aircraft able to fly passengers short distances over traffic-congested urban areas.
Investment company Morgan Stanley earlier this year projected the eVTOL market could be valued at more than $1 trillion by 2040.