Investors from China

Volocopter to remain in Germany after takeover

Founded in 2011, the start-up Volocopter builds all-electric aircraft that take off vertically.

(Bild: Volocopter)

Following its takeover by the Chinese group Wanfeng, the air cab manufacturer Volocopter will continue to operate at its site in Bruchsal near Karlsruhe. Its Austrian subsidiary Diamond Aircraft has reorganized Volocopter, according to a statement.

The aim is to further reduce costs and concentrate on achieving type certification. According to a spokesperson, 185 employees will continue to be employed.

A few days ago, Wanfeng announced the purchase in a stock exchange announcement. The Austrian aircraft manufacturer Diamond Aircraft is 100 percent owned by Wanfeng. It is a strong strategic partner that will build on Volocopter's previous work, said insolvency administrator Tobias Wahl according to the press release. The Chairman of the Supervisory Board of Diamond Aircraft Group, Bin Chen, said that the company's portfolio would be further strengthened by Volocopter, the Volocity air cab and future models.

No permission for passenger operations yet
Founded in 2011, the start-up builds all-electric aircraft that take off vertically. They are intended to offer an alternative transport option, particularly in densely populated cities such as Rome and Osaka. In Germany, the plan so far has been to use them for air rescue operations. However, a type certificate from the European Aviation Safety Agency is still missing for passenger operations.

Due to a repeated lack of funds and a lack of state aid from the federal government and the federal states of Baden-Württemberg and Bavaria, Volocopter filed for insolvency proceedings on Boxing Day. This step was taken at the beginning of March. According to dpa information, around 450 employees were made redundant.

The Bavarian electric aircraft manufacturer Lilium is also struggling with financial problems. It recently had to file for insolvency for the second time.