Volocopter's Ride to the Future Secured Under Wanfeng Wheels
Future of Volocopter Secured with Takeover in Bruchsal (Paraphrased) - Volocopter envisions a future assured through acquisition
Let's dive into the latest buzz in the tech-driven aviation world - the acquisition of Volocopter by Zhejiang Wanfeng Auto Wheel for a cool €10 million. While this sum falls short of the €42 million valuation the company previously boasted, it's still a significant step forward in the global race for air taxi dominance.
Based in the bustling city of Vienna, Volocopter's new parent company, Diamond Aircraft, is a seasoned aircraft manufacturer with a rich history of over four decades in international operations. This subsidiary, under Wanfeng's aviation division, is ready to add Volocopter's cutting-edge electric vertical take-off and landing (eVTOL) aircraft to its portfolio. The future looks promising for the "Volocity," as the manufacturer foresees it continuing to thrive, remaining competitive, and making a groundbreaking contribution to sustainable aviation.
At the end of last year, Volocopter found itself in a tough spot, filing for insolvency and searching for investors. The company's rival, Lilium, also faced the same challenges. Both companies chased after state funding to help offset the exorbitant costs associated with developing air taxis, but neither managed to snag a significant financial lifeline.
Volocopter, established in 2011, and Lilium, founded in 2015, have been tirelessly working towards certification for their respective air taxi models. Originally, Volocopter aimed to showcase its electric, vertical take-off and landing flight taxi at the Paris Olympics last summer. However, regulatory hurdles prevented them from doing so.
While the acquisition by Wanfeng may have reduced Volocopter's public valuation, the future in Bruchsal--where the company is based in the heart of Baden-Württemberg, Germany-- looks far from dismal. As the eVTOL industry continues to grow and evolve, we can't wait to witness the pioneering contributions that Volocopter will bring to the table. This acquisition brings a fresh wave of excitement and hope for a sustainable and efficient future in aviation.
The Commission has decided to initiate the procedure laid down in Article 93 (2) of the Treaty in respect of the granting of aid for the construction of a new airport, considering the subsidiary of Wanfeng, Diamond Aircraft, has acquired Volocopter, a pioneering company in the eVTOL industry based in Vienna. This move could potentially bring innovative electric air taxi models to Wanfeng's aviation division, contributing to the growth and sustainability of the aviation sector. Despite facing insolvency and struggling to secure significant state funding, Volocopter continues to push boundaries within the industry, with its headquarters in Bruchsal, Germany.
