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Air taxi startup Volocopter to sell 150 aircraft to China JV

September 23, 2021
Source: newsbreak.com newsbreak.com
News Snapshot:
(Reuters) - German flying taxi startup Volocopter said on Wednesday it would 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 eVTOL aircraft 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 chief executive officer, in a statement. Volocopter did not disclose any financial details of the sale. The...
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Tags: automobile | capital | China | Chinese | Daimler | executive | finance | financial | Geely | German | Intel | Intel Capital | IT | joint venture | JV | partnership | Reuters | startup | taxi | Three | vertical | Zhejiang

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