Wall Street investor Jason Mudrick has become a major shareholder in Vertical Aerospace, a company developing flying taxis.
Jason Mudrick's Investment in Vertical Aerospace
Jason Mudrick, a billionaire hedge fund manager known for jumping into bankrupt brick-and-mortar stocks, is now backing the concept of flying taxis. After Donald Trump signed a new executive order supporting the US aerospace industry, the idea of flying aircraft for cities suddenly became more tangible. Mudrick has taken control of Vertical Aerospace after forcing out founder Stephen Fitzpatrick and converting $130 million of debt into equity.
Plan for the Launch of VX4 Flying Aircraft
The VX4 aircraft is designed to carry six people and fly up to 100 miles on a battery, enabling travel between Manhattan and the Hamptons in under an hour. Despite prior significant drops in valuation, Mudrick sees potential in the company. He noted, "Vertical wouldn’t be here if he hadn’t come up with the idea."
Vertical Aerospace's Strategy and Competitive Environment
Vertical intends not to operate flying taxis but to sell aircraft like Airbus and Boeing. Each sale would secure contracts for servicing and battery replacements. Nonetheless, the company faces intense competition from developers like Joby Aviation and Archer, which have already outlined plans for their services by 2025-2026. Mudrick believes that VX4 may take longer to get certified in Europe.
Jason Mudrick's investment in Vertical Aerospace highlights the growing interest in flying taxis and their potential integration into urban transport infrastructure. However, the company's success will depend on effective execution of its plans and increasing competition.
