By Tim Hepher

(Reuters) – As the flying taxi industry grows, it is now up to the market to determine where future cars will be made. One of Vertical Aerospace’s backers is Domhnal Slattery from Ireland. He wants to establish a manufacturing facility in Ireland.

After a merger of equal value at $2.2billion, shares in the maker of electric vertical takeoff-and landing aircrafts (eVTOL), backed by investors like Slattery’s Avolon aircraft lease company and American Airlines (NASDAQ) rose strongly at Friday’s market debut.

Vertical Aerospace, unlike many others in the crowded eVTOL marketplace, is focusing on design, manufacturing, and services. This has sparked a competitive bidding war for high-tech production work and highly skilled jobs.

The company reported that it has received pre-orders from up to 1,350 aircraft valued at $5 billion, including orders from American Airlines and Virgin Atlantic.

“We’ve been in touch with a variety of governments to discuss where we could build our production plant. After ringing New York’s opening bell, Stephen Fitzpatrick, founder and chief executive of Fitzpatrick Inc. said Domhnal was keen to see it go to Ireland.

Although the Republic of Ireland has been recognized as a major hub for international aviation finance, there is no significant manufacturing sector. It would be a great help to the government in achieving two goals: increasing its green tech sector and diversifying away investment that is dependent on low corporate taxes.

I would love to go there. This would make for a great location. Slattery stated that the UK was equally appealing as other jurisdictions in an interview with Reuters.

Vertical Aerospace’s UK headquarters is in Bristol. Fitzpatrick stated that discussion about where the plant should be located is “hypothetical”.

Analysts warn that even after a decision has been made about where the vehicle will be built, it is important to ask how long it takes for new electric aircraft to become certified by aviation authorities.

Vertical Aerospace has set a 2024 target and plans to order a certified vehicle within the next few weeks.

Fitzpatrick stated to Reuters that the program is set for 2024 and there’s a window between 2024-2025.

“The main challenge that we have to face is to certify the aircraft, there’s no question about it,” he stated, adding that key components would be handled by Honeywell and Rolls-Royce (OTC) partners.

These aircraft will be flying over major cities in the world within three years, but no more than five.