Vertical Aerospace Secures $800M to Launch Electric Passenger Aircraft by 2028
Vertical Aerospace has taken a major step forward in its plans to launch electric passenger aircraft. The company, founded by entrepreneur Stephen Fitzpatrick, is now closing in on over $800 million in fresh funding. This comes as it prepares to start production of its Valo aircraft within the next year. The Bristol-based firm went public in 2021 with a valuation of around $2 billion. Since then, it has focused on developing its electric vertical take-off and landing (eVTOL) aircraft, the Valo. Regulatory oversight for its testing programme is being handled by the UK Civil Aviation Authority (CAA) and the European Union Aviation Safety Agency (EASA).
A newly operational battery pilot production line is now building final battery packs for seven Valo aircraft. These will be used in the last stages of the certification process, which the company aims to complete by 2028. Commercial production is set to follow that same year, with customer deliveries expected shortly afterward.
Recent orders from operators in India and Monaco have boosted confidence in the project. Chief executive Stuart Simpson noted stronger engagement from customers and partners as the company pushes toward key milestones. However, with development accelerating, Vertical Aerospace also anticipates higher cash outflows over the coming year. In response, the business is tightening cost controls while increasing investment in testing and manufacturing. The new funding will help strengthen Vertical Aerospace's financial position as it moves toward certification and production. With regulatory approvals targeted for 2028, the company is preparing to enter commercial service soon after. The latest orders and partnerships suggest growing industry interest in its electric aircraft.
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