British company inks Japan electric aircraft deal worth up to $800m
A British manufacturer, leading the transition to carbon free aviation, has inked a deal to introduce its flagship electric aircraft to the Japanese market.
Bristol based Vertical Aerospace has agreed a partnership with Marubeni Corporation, a leading Japanese trading and investment conglomerate to explore sustainable, emissions free aircraft.
Morning Wire understands the deal could be worth as much as $800m and will bring Vertical’s signature electric aircraft, the VA-X4, to Japanese buyers with a pre-order option of up to 200 planes.
Stephen Fitzpatrick, Founder and CEO of Vertical said, “Marubeni is one of the most respected companies in Japan, and we are proud to be partnering with them as we look at ways to bring our VA-X4 to the Japanese market.
“This is the most exciting time in aviation for almost a century; electrification will transform flying in the 21st century in the same way the jet engine did 70 years ago and with Marubeni we are confident we have a great partner who can be a part of this transformation,” Fitzpatrick added.
The deal builds on existing commercial partnerships between Vertical and American Airlines, Virgin Atlantic, Avolon, Iberojet and Bristow who with Marubeni have already collectively agreed conditional pre-orders for 1350 aircraft in total with a value of approximately $5.4bn.
Toru Okazaki, Senior Operating Officer at Marubeni said, “We’re so excited to announce this great partnership with Vertical Aerospace, who is now leading the Advanced Aerial Mobility market.”
Vertical Aerospace announced its intention to go public in June through a merger with Broadstone Acquisition Corp.
Read more: Aviation bosses warn UK sector is falling behind European competitors due to hotel quarantine rules