Summary:
Volocopter files for bankruptcy while seeking new investors.
Aims to launch the "Volocity" air taxi by 2025.
Needs EASA certification for its two-seater Volocity model.
Business operations will continue during provisional insolvency.
Lilium successfully rescued from insolvency, highlighting startup challenges.
German air taxi manufacturer Volocopter has filed for bankruptcy in the Karlsruhe District Court, but the company remains hopeful about its future. Despite this setback, Volocopter is actively seeking new investors and aims to launch its "Volocity" air taxi by 2025.
Why is Volocopter in Trouble?
Based near Stuttgart, Volocopter is currently in need of type certification from the European Union Aviation Safety Agency (EASA) before it can officially launch its two-seater Volocity product line. The company has stated that it is proceeding with the assumption that it will find an investor in the coming year, despite the insolvency proceedings.
Volocopter has reported that business operations will continue as normal during this provisional insolvency phase. The company is nearing the completion of gaining approval for Volocity's all-electric vertical takeoff and landing technology. The provisional insolvency administrator, Tobias Wahl, emphasized the necessity of financing to take the final steps toward market entry, with plans to develop a restructuring concept by the end of February.
Unfortunately, Volocopter's progress was hindered when it had to cancel test flights during the 2024 Paris Olympic Games due to delays in receiving the aircraft engine certification. As of December, the company reported that the Volocity model had met 75% of the certification requirements, and they are also working on a five-seater model set to debut in 2027.
Competitor Back from the Brink
In a recent turn of events, Lilium, another German electric plane pioneer, was rescued from insolvency by the Mobile Uplift Corporation consortium, sparking discussions about the support available for startups in Germany.
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