Bullish indicating open at $55-$60, IPO prices at $37
LONDON & NEW YORK - Vertical Aerospace [NYSE: EVTL], a leading company in electric aviation, has announced its adoption of the Combined Charging Standard (CCS) for its VX4 electric vertical take-off and landing (eVTOL) aircraft. This move, aligning with industry peers BETA Technologies and Archer Aviation, aims to establish a universal fast-charging infrastructure for eVTOLs, which is expected to reduce costs and expedite the commercial deployment of electric aviation.
The adoption of the CCS fast-charging standard by Vertical Aerospace is poised to enable the VX4 to benefit from quick turnaround times, including rapid battery charging. This standardization promises seamless integration for original equipment manufacturers (OEMs), operators, and infrastructure providers.
Today’s announcement is in line with the General Aviation Manufacturers Association’s (GAMA) advocacy for a standardized charging system, which is deemed essential for the scalability and commercialization of electric aviation.
Stuart Simpson, CEO of Vertical Aerospace, emphasized the importance of a standardized charging infrastructure in making electric aviation commercially viable. He expressed that Vertical’s decision to adopt the CCS signifies the industry’s commitment to a shared charging network that will benefit customers and support the growth of a scalable eVTOL ecosystem.
Chip Palombini, BETA’s Charge Production Lead, highlighted the critical role of a robust interoperable charging infrastructure in supporting the next generation of aviation across the globe.
David Dunning, Director of Global Innovation & Policy at GAMA, also reiterated the significance of a unified charging standard in reducing costs and accelerating the adoption of electric aircraft for all stakeholders.
Vertical Aerospace has positioned itself as a pioneer in electric aviation, with approximately 1,500 pre-orders for the VX4 from global customers, including American Airlines and Japan Airlines. The company’s leadership team, with experience from top-tier automotive and aerospace companies, is driving the development of the VX4, a piloted, four-passenger eVTOL with zero operating emissions. Despite its promising technology, InvestingPro data shows the stock has experienced significant volatility, with a -72.89% year-to-date return and currently trades at $3.41. Based on InvestingPro’s Fair Value analysis, the stock appears to be undervalued at current levels.
This news is based on a press release statement and reflects the company’s forward-looking aspirations. For investors seeking deeper insights, InvestingPro offers 15 additional investment tips and a comprehensive Pro Research Report covering Vertical Aerospace’s financial health, valuation metrics, and growth prospects. It’s important to note that actual outcomes may differ from these statements due to various factors, including those outlined in Vertical Aerospace’s filings with the U.S. Securities and Exchange Commission.
In other recent news, Vertical Aerospace has announced its financial and operational strategies during the Q4 2024 earnings call, emphasizing its ongoing development of the VX4 eVTOL aircraft. The company reported a net cash usage of approximately $100 million in 2024, with projections of $110-$125 million for 2025. Vertical Aerospace aims to be fully funded through 2025 and is targeting aircraft certification by 2028. The company has raised $90 million from current investors and $60 million from new investors, supporting its ambitious development goals. Additionally, Vertical Aerospace is exploring new market opportunities, including potential military and defense applications, which could diversify its revenue streams.
In another development, Vertical Aerospace has appointed Paul Stone, a former Volocopter test pilot, to enhance its eVTOL flight test program. Stone’s extensive experience in experimental and developmental flight testing is expected to significantly contribute to the company’s efforts. The assembly of the third full-scale VX4 prototype has begun, marking a critical step in Vertical Aerospace’s timeline. The company has also completed piloted thrustborne testing for the VX4 and is working with the UK Civil Aviation Authority to expand its flight envelope. These recent developments underscore Vertical Aerospace’s commitment to advancing its eVTOL technology and achieving its strategic goals.
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