Vertical Receives Pre-order for 50 VX4 eVTOLs

Vertical Aerospace, the electric aircraft manufacturer, has received a pre-order for up to 50 VX4 eVTOLs from South Korean mobility technology company Kakao Mobility. 

Vertical and Kakao Mobility will also establish a Joint Working Group (JWG) to boost the implementation of advanced air mobility (AAM) services in South Korea. 

The two parties will explore the requirements to establish a fully-fledged fleet of aircraft and the infrastructure parameters. Other discussions will circulate on regulatory hurdles and public education on eVTOLs. 

Kakao Mobility is the largest Mobility-as-a-Service (MaaS) platform in South Korea, with over 30 million registered users. The deal means that Vertical can tap into Kakao Mobility’s customer base to establish an urban air mobility (UAM) network in the country. 

The JWG further strengthens Vertical’s presence in the South Korean market, as the Bristol-based firm already has an existing consortium partnership regarding the K-UAM Grand Challenge. The consortium includes Vertical, Kakao Mobility, LG Uplus, GS E&C, and South Korea’s Ministry of Land, Infrastructure, and Transport. 

“We are delighted to be partnering with Kakao Mobility. With its over 30 million registered users, Kakao Mobility is the go-to choice to “hail a ride,” and with our partnership, we look forward to people across South Korea being able to fly in a VX4 in the years to come. We are thrilled to be working together to make our joint vision a reality,” Stephen Fitzpatrick, Vertical’s founder and CEO, said. 

Alex Ryu, the CEO of Kakao Mobility, acknowledged that eVTOLs and AAM will introduce a whole new means of air travel to the general public. 

“Kakao Mobility is the leading mobility platform, and in an AI-enabled world with needs for faster, eco-friendly means of moving, we understand that UAM will be a game-changer in the near future,” he said. “We are excited to take part in Vertical Aerospace’s mission to launch its VX4 globally and to bring an UAM service to the Korean market.”

At the beginning of May 2023, Vertical announced a net loss of £23 million (USD$28.9 million) for the first quarter of 2023. The British firm also postponed the certification target for its VX4 electric aircraft to 2026. 

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