Volocopter to sell 150 air taxis to China JV

Europe

German flying taxi startup Volocopter will sell 150 electric vertical take-off and landing (eVTOL) aircraft to its joint venture with a unit of Chinese automaker Zhejiang Geely Holding Group.

Volocopter, which counts Daimler, BlackRock and Intel Capital as some of its investors, said it expects the partnership to bring the air taxis to China within the next three to five years.

China represents the “biggest single market opportunity” for the urban air mobility industry, said Florian Reuter, Volocopter’s CEO, in a statement.

Volocopter did not disclose any financial details of the sale. The company in April had announced the formation of the joint venture with Zhejiang Geely’s Aerofugia.

Volocopter, which has raised EUR 322 million ($377.87 million) from its investors, added that Zhejiang Geely’s top boss Daniel Li Donghui had joined its advisory board.

Products You May Like

Articles You May Like

Rivian Electric R1T: Four Motor Handling Review #shorts
Quick Look at the 2020 Volkswagen Atlas Cross Sport | MotorTrend
Bloopers and Behind The Scenes of WOT – Wide Open Throttle Episode 25
Bentley’s 100th Anniversary: Past, Present, and Future

13 Comments

Leave a Reply

Your email address will not be published. Required fields are marked *