VERTAXI Secures 100-Unit eVTOL Order from AVIC Leasing, Advancing Urban Air Mobility in China
From May 26 to 28, the 3rd Civil Aviation Science and Innovation Achievement Expo was held at the China National Convention Center in Beijing. VERTAXI, an emerging leader in low-altitude urban mobility, made its Beijing debut with the full-scale presentation of its 2-ton class manned electric vertical take-off and landing (eVTOL) aircraft—M1.
During the event, VERTAXI announced major progress in the M1 series development. The airworthiness-certified model, M1B, has recently completed several key safety tests on its airframe, propulsion system, and flight control system. The highlight of the expo was the signing of a cooperation agreement between VERTAXI and AVIC International Leasing Co., Ltd., China’s largest aviation industry-backed leasing company. The agreement covers 100 units of the M1 eVTOL, with a total estimated value exceeding RMB 1 billion (approx. USD 140 million).
M1B Completes Structural and Flight Safety Testing
The M1 is a 2.5-ton gross weight eVTOL aircraft independently developed by VERTAXI. Featuring a compound-wing configuration and powered by 20 electric rotors, it can carry five passengers at a cruising speed of 200 km/h and a range of up to 250 km per charge. Fully electric and designed for autonomous flight, the M1 eliminates the need for a pilot, reducing both operational risk and cost.
For instance, a future trip from Beijing’s National Stadium to Daxing International Airport that currently takes over two hours by car could be completed in just 30 minutes aboard the M1—at a price similar to a taxi fare. This innovation positions the M1 as a next-generation “air taxi.”
In October 2023, VERTAXI successfully completed the maiden flight of its M1 proof-of-concept prototype, making it China’s first fully domestically developed and produced 2-ton class eVTOL. In January 2024, the M1B variant officially entered the airworthiness certification process with the Civil Aviation Administration of China (CAAC).
During the expo, VERTAXI revealed updates on M1B’s recent tests, including static load tests on wings, tailfins, and propulsion arms, as well as multiple-motor load simulations. These tests were conducted using a dedicated M1B static test airframe at VERTAXI’s final assembly plant in Jinshan, Shanghai.
On the propulsion side, the M1B uses a fully domestically developed electric powertrain co-developed with local suppliers. The system has successfully demonstrated the ability to output both rated and peak power under operating conditions, meeting all performance specifications and offering substantial power reserve.
For flight control, VERTAXI developed a triple-redundant dual-channel flight control system. Designed with a command-monitor architecture, the system ensures safety even if one or two flight computers fail—greatly enhancing the aircraft’s reliability in complex environments. Additionally, navigation, vibration, temperature, and load testing have all yielded positive intermediate results.
Strategic Partnership with AVIC Leasing: 100 Units Ordered
At the expo, VERTAXI and AVIC Leasing signed a strategic agreement covering 100 units of the M1 eVTOL. The cooperation is valued at over RMB 1 billion and will focus on key areas such as product incubation, production line localization, and manufacturing capacity expansion.
Founded in 1993, AVIC Leasing is one of China’s first domestic financial leasing companies and is part of the AVIC Capital segment under the centrally managed AVIC Group. Its aircraft leasing business ranks among the world’s leading lessors and supports the commercial rollout of Chinese-made aircraft including the ARJ21 and C919.
The signing ceremony was attended by Yu Daoyuan (Chairman of AVIC Leasing), Gao Jianming (Chairman of the Civil Aviation Investment Fund), Liu Guibing (Deputy GM of AECC Fund), and VERTAXI founder and CEO Xie Ling. The agreement was officially signed by Yue Tingting (VP of VERTAXI) and Zhang Yang (Deputy GM of AVIC Leasing’s Aviation Division).
Mr. Yu Daoyuan commented, “The low-altitude economy is a rising force in driving industrial transformation and technological innovation. VERTAXI’s commitment to independent R&D and fully domestic manufacturing gives it a clear lead in China’s eVTOL sector. This partnership brings together AVIC Leasing’s financial and global resources with VERTAXI’s technical expertise to jointly explore real-world commercialization scenarios and accelerate the development of China’s low-altitude economy.”
