Volocopter, a manufacturer of all-electric vertical take-off and landing, or eVTOL, aircraft, has filed an application to enter insolvency proceedings at the Landesgericht (state court) in Karlsruhe, Germany.
“Despite recent intensive fundraising efforts, finding a viable solution to maintain regular operations outside of insolvency proceedings has not been possible,” the company said in a statement.
Despite the insolvency filing, the company is vowing to continue its bid to get its VoloCity eVTOL aircraft certified this year by the European Union Aviation Safety Agency (EASA). Once the aircraft has been certified, the company said, it plans to enter the urban mobility market, a goal that it believes it can also…