Chinese Firm Wanfeng to Acquire Insolvent Flying Taxi Pioneer Volocopter

Volocopter, facing financial struggles and regulatory hurdles, is set to be purchased for €10 million by Wanfeng through a newly established subsidiary.

Volocopter, a German flying taxi company, filed for insolvency in December 2024, citing financial difficulties and lack of state support.
Chinese conglomerate Wanfeng plans to acquire Volocopter for €10 million through a Berlin-based subsidiary tied to its Austrian Diamond Aircraft division.
Approximately 450 Volocopter employees were released, with reports indicating 160 may be retained under the new ownership structure.
Volocopter has yet to secure the European Aviation Safety Agency's certification for commercial passenger operations, stalling its ambitions for urban air mobility.
The deal underscores broader challenges in the urban air mobility sector, with similar financial struggles seen in other firms like Lilium.