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

  • Printed and flexible electronics in vehicles: major opportunity by 2026
    January 27, 2016
    A new report from IDTechEx Research, Printed and Flexible Electronics in Automotive Applications 2016-2026, indicates that the market for printed and flexible electronics in vehicles is expected to grow to over US$5.5 billion dollars in the next decade, spearheaded by the projected growth of in-mould electronics and OLED technologies. Printed and flexible electronics are beginning to proliferate, with a variety of components and devices coming to market. Several end-user verticals are expected to benefit
    Read More
  • Daktronics celebrates 50th anniversary
    May 31, 2018
    Daktronics will use the ITS America annual meeting to celebrate a half century of innovations and tell a remarkable story of growth from very small beginnings. In 1968, the company began in a garage with two engineers who had the vision to start a US-based manufacturing company. They brought their commitment to quality and innovation to the transportation market in 1988 with a digital message display for the Connecticut Department of Transportation. Today, Daktronics is the world leader in audio-visual
    Read More
  • Siemens Mobility is clearing the air
    October 2, 2020
    Tens of thousands of premature deaths in the UK alone are linked to air quality - but it doesn’t have to be that way. Siemens Mobility’s Wilke Reints explains why
    Read More
  • Intelligent powertrains could make cost cuts
    April 30, 2020
    Intelligent vehicle powertrains could be a way of making substantial cuts in operating costs and emissions. David Crawford looks at some far-reaching initiatives in Europe and North America
    Read More

Highlighted Content