Marubeni : British company inks electric aircraft deal worth up to $800m
09/22/2021 | 03:21pm EDT
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.
City A.M. 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.