British electric aircraft manufacturer Vertical Aerospace has agreed to a £10 million government support package. The funding is intended to secure domestic manufacturing capabilities and create thousands of jobs within the United Kingdom.
Vertical Aerospace stated that it was in advanced discussions regarding the subsidies and has now reached an agreement on the financial amount, though technical details are still being finalized. Company leaders had previously expressed concerns that they might need to establish manufacturing operations for their electric vertical take-off and landing (eVTOL) aircraft outside of the UK. The support package is seen as a significant endorsement of the UK's aerospace sector and its potential to lead in the next generation of aviation.
"This is a major vote of confidence from the Government in Vertical, in our aerospace sector and in the UK’s opportunity to lead the next generation of aviation," said Vertical Chief Executive Stuart Simpson. "It means we will continue to create high-value jobs and build aircraft that will be exported to customers around the world."
This development follows Vertical Aerospace's completion of the first public eVTOL flight in Hampshire. The company's eVTOL aircraft are designed for short-haul air travel and aim to provide a sustainable alternative to traditional aviation.