Marubeni Corporation becomes first customer in Asia to make pre-delivery payment for Vertical’s VX4 aircraft
Vertical Aerospace has secured a pre-delivery payment for the reservation of its VX4 eVTOL aircraft from its existing customer, the leading Japanese trading and investment conglomerate, Marubeni Corporation.
Following the joint working group partnership with Vertical, Marubeni has reserved aircraft delivery slots for 25 out of its up to 200 conditional pre-orders and becomes Vertical’s first customer in Asia to make a pre-delivery payment.
Vertical and Marubeni previously announced a partnership in September 2021 for conditional pre-order options of up to 200 aircraft, and joint evaluation of the requirements for eVTOL aircraft operations in Japan, as well as commercial considerations such as route and network planning and infrastructure requirements.
Stephen Fitzpatrick, Vertical’s founder and CEO, said: “We are delighted to have reached the next milestone in our partnership with Marubeni. Japan is a wonderful country which is embracing the promise of eVTOL, as it will connect cities and regions like never before. We look forward to our joint efforts to build the ecosystem for zero-emissions travel in Japan.”
Marubeni’s commitment further reinforces Japan’s potential as a key launch market for Advanced Air Mobility. The company has conducted proof-of-concept demonstration trials in preparation for the Osaka World Expo 2025, using existing helicopters at future expected AAM service prices for flights between Osaka heliport to Wakayama.
Throughout the trials, Marubeni also began addressing public awareness, acceptance, and requirements for future eVTOL services in the prefecture.
Satoshi Takechi, General Manager, Aviation, Space & Defense Dept. said: “We are proud to have taken another major step with Vertical Aerospace to introduce VX4 in Japan. I am confident that our continued joint efforts with Vertical Aerospace, such as evaluating the requirements for eVTOL operations and engaging the potential partners under the Joint Working Group, together with this new agreement, will accelerate the development of the AAM market in Japan.
“Marubeni will further enhance activities to materialise our business, which aims to make air travel more accessible and convenient, while simultaneously contributing to climate change mitigation measures, including low-carbon and decarbonisation initiatives.”
Vertical’s VX4 prototype was issued with its Permit to Fly from the UK’s Civil Aviation Authority in September 2022 and since then, it has successfully undertaken piloted flight tests. The flight test programme will continue over the coming months, reaching higher altitudes and speeds as well as demonstrating the transition from vertical to horizontal flight.
The VX4 is projected to be capable of transporting a pilot and up to four passengers, traveling distances of 100 miles, and achieving top speeds of more than 200 miles per hour.
Vertical currently has a pre-order book for more than 1,400 aircraft from global customers creating multiple potential near term and actionable routes to market. Customers include American Airlines, Virgin Atlantic, Avolon, Bristow, Marubeni, Iberojet and FLYINGGROUP, as well as Japan Airlines (JAL), Gol, Air Greenland, Gozen Holding and AirAsia, through Avolon’s VX4 placements.
Vertical’s ordinary shares and warrants commenced trading on the NYSE in December 2021 under the tickers “EVTL” and “EVTLW,” respectively.