- Vertical Aerospace Ltd EVTL established a strategic partnership with E-One Moli Energy Corp (Molicel), a manufacturer of lithium-ion cells, to supply high-power cylindrical cells for VX4 eVTOL aircraft.
- With this partnership, Vertical has secured the supply of battery cells to develop the VX4 through to certification and entry into service, working with Molicel to increase supply as the VX4 is brought into mass production.
- The battery system will be certified concurrently with the European Union’s Aviation Safety Agency (EASA) and the UK’s Civil Aviation Authority (CAA), with Vertical targeting 2025 for entry into service.
- Price Action: EVTL shares are trading higher by 0.68% at $2.93 on the last check Wednesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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