Volocopter raises €50m for air taxi launch

Volocopter has raised €50 million to help commercially launch its VoloCity air taxi within the next few years. Automotive company Zhejiang Geely Holding led the funding round and is partnering with Volocopter to develop urban air mobility in China. Li Shufu, Geely Holding chairman, says: “Geely is transitioning from being an automotive manufacturer to a mobility technology group, investing in and developing a wide range of next-generation technologies.” Looking ahead, Volocopter expects to close
September 16, 2019 Read time: 1 min

8772 Volocopter has raised €50 million to help commercially launch its VoloCity air taxi within the next few years.

Automotive company Zhejiang Geely Holding led the funding round and is partnering with Volocopter to develop urban air mobility in China.

Li Shufu, Geely Holding chairman, says: “Geely is transitioning from being an automotive manufacturer to a mobility technology group, investing in and developing a wide range of next-generation technologies.”

Looking ahead, Volocopter expects to close a second funding round toward the end of the year and says it remains open to new investors.

For more information on companies in this article

Related Content

  • Michigan fosters real-world testing of workzone ITS
    September 19, 2017
    Turning a ‘problem’ into ‘an opportunity’ is the mantra of just about every business book and Michigan Department of Transportation (MDoT) looks set to achieve that aim in Oakland County, where 29km (18 miles) of the I-75 needs to be reconstructed. Running north-northwest from Detroit, the I-75 carries around 170,000 vehicles per day but, being built in the 1970s, it now requires an additional lane in each direction and upgrading to the latest design and safety standards. Upgrading will be carried out in
    Read More
  • Conscience versus convenience
    June 8, 2015
    David Crawford looks at new ways forward for public transport. By 2025, nearly 60% of the world’s population will be living in towns and cities, increasing their extent and density, and the journeys that people make within and between them. In response, the International Association of Public Transport (UITP) wants to see public transport’s global modal share doubling (PTx2) by the same date. “Success in 2025,” a spokesperson told ITS International, “will save 170 million tonnes of oil equivalent and 550
    Read More
  • Qualcomm and automotive companies to drive C-V2X commercialisation
    February 27, 2018
    Qualcomm Technologies (QCOM) is working with an ecosystem of carmakers and automotive suppliers to accelerate the commercial introduction of Cellular Vehicle-to-Everything (C-V2X) technology using its 9150 C-V2X chipset solution. The participants are seeking to utilise the device for next-generation vehicles and roadside infrastructure, staring in 2019. 9150 C-V2X is said to feature improved direct communication range, reliability and latency when faced with congested roadways. It is planned to be
    Read More
  • Investors point to bright future for micromobility
    January 23, 2020
    Some big names are looking to invest in transportation companies – and this new confidence in the future of MaaS and micromobility indicates a step change, says Ito World’s Johan Herrlin
    Read More

Highlighted Content