Chinese company to buy bankrupt German flying taxi firm
by AFP Staff Writers
Berlin (AFP) Mar 13, 2025
Insolvent German flying taxi firm Volocopter is to be bought by a Chinese vehicle parts maker, just weeks after another German company in the field, Lilium, collapsed.
The Chinese firm, Zhejiang Wanfeng Auto Wheel Co., put the price tag of the transaction at 10 million euros ($10.9 million), while Volocopter’s assets were given a book value of around 42 million euros.
Founded in 2011, Volocopter filed for insolvency in December.
It had wanted to bring its two-seater flying electric taxi “Volocity” to market by 2025 but suffered a setback when it had to cancel test flights at last year’s Paris Olympics.
The European…
