Images posted online show significant damage to the first full-scale prototype of the company's VX4 eVTOL aircraft following a motor failure flight test.
A letter to shareholders says technical issues relating to the certification process are the main reason for the delay, but the company's first-quarter balance sheet shows depleted cash reserves.
Hanwha Aerospace is joining forces with advanced engineering company Stirling Dynamics to produce a key component of Vertical Aerospace’s four-seat eVTOL air taxi.
The country's Civil Aviation Authority has also confirmed that it will adopt the Special Condition VTOL means of compliance developed by the European Aviation Safety Agency.