As the flying taxi market progresses, the race is on to decide where the vehicles of the future will be built, with the newly listed Vertical Aerospace – one of the backers of Irish leasing boss Domnal Slattery – for a manufacturing base in Ireland. are emphasizing.
Shares of the electric vertical takeoff and landing aircraft (EVTOL) maker, backed by investors such as Slattery’s Avalon Aircraft Leasing Company and American Airlines, rose sharply at its market debut on Friday following a $2.2 billion blank-check merger.
Unlike many other entrants in the increasingly busy EVTOL market, Vertical Aerospace is focusing solely on design, manufacture and services rather than ride-sharing operations, in a bid to secure high-tech production work – and with it Focusing on highly skilled jobs to go. ,
It has reported pre-orders for 1,350 aircraft valued at $5 billion from customers including American and Virgin Atlantic.
“We are talking to several different governments about where we can build a production facility. Domhnall is very eager for us to take it to Ireland,” founder and chief executive Stephen Fitzpatrick said after ringing the opening bell in New York.
While the Republic of Ireland is a global hub for aviation finance, it does not host any major aerospace manufacturing. A plant would help the government achieve two of its objectives: boosting its green technology sector and moving away from investments dependent on the country’s low corporate tax rate.
“I would love to see it in Ireland. I think it would be a great place. Britain is equally attractive and there are other jurisdictions really,” Slattery told Reuters in an interview.
Bristol in the UK, where Vertical Aerospace is located, has thousands of aerospace engineers and discussions about where to place the plant are “imaginary” for now, Fitzpatrick said.
Even once a decision is made about when to build the vehicles, analysts warn a key question is how long it will take for new electric planes to be certified by aviation authorities.
Vertical Aerospace aims for 2024 and is expected to roll out a dedicated certification vehicle in the coming weeks.
“We are on a schedule for the end of 2024; We are giving ourselves a window of 2024-2025,” Fitzpatrick told Reuters.
“The main challenge we have is to certify the aircraft, no doubt,” he said, adding that partners including Rolls-Royce and Honeywell will handle the key components.
“We’re going to be flying these planes to cities around the world in at least three years, but no more than five.”
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