The Chinese acquired the German “air taxi” company Volocopter for 10 million euros. Volocopter attracted 700 million euros in the West

 

"The Chinese automotive group Zhejiang Wanfeng Auto Wheel has acquired the insolvent German developer of electric vertical take-off and landing (eVTOL) vehicles Volocopter for 10 million euros. Volocopter, which has been operating since 2011, had ambitious plans for commercial air taxi models, but declared insolvency last December and was looking for a savior.

 

The deal was officially confirmed on March 10, 2025 in a report by the Shenzhen (China) Stock Exchange, aerotime.aero reports.

 

The acquisition was carried out through the German company Heptus 591, which Wanfeng Aviation Industry founded in January. It is not yet clear what Wanfeng’s plans are for Volocopter and its research and production facility in Bruchsal, southern Germany. The acquisition announcement vaguely states that the new owner will use its own funds to “develop advanced eVTOL products and create a new growth engine for the company.”

 

All Volocopter employees were laid off on March 5, 2025, although some reports suggest the new owners may retain about a quarter of the former workforce.

 

Wanfeng Aviation Industry also controls Austria-based Diamond Aircraft in Europe, one of the world’s leading manufacturers of light training aircraft, aerotime.aero reports.

 

Founded in Stuttgart in 2011, Volocopter has had ambitious goals over the years, but they have not materialized. While the company has made significant progress toward regulatory approval, it has faced significant setbacks in recent years, including the cancellation of a long-awaited, symbolic launch of its two-seat air taxi, Volocity, at this year’s Paris Olympics.

 

The company was seeking certification from the European Union Aviation Safety Agency (EASA) to bring Volocity to market, but filed for bankruptcy in December. Volocopter has been developing cargo solutions as well as a five-seat passenger model it hopes to launch in 2027.

 

Volocopter is one of the most well-funded electric air taxi companies, having raised hundreds of millions of dollars over nearly a decade and backed by major automakers such as Germany’s Mercedes-Benz and China’s Geely, aerospace companies, and Microsoft. According to the Financial Times, it would be operating a fleet of 100,000 aircraft by 2023. By the end of 2015, the company had secured more than $760 million (about €700 million at the current exchange rate) in investments.

 

Another German-based air taxi startup, Lilium, also declared bankruptcy in early November. Although the Munich-based electric aircraft manufacturing company was offered a helping hand by the Mobile Uplift Consortium in 2015, which promised to invest about €200 million in the company, in mid-February it was reported that the deal had not taken place and Lilium again declared itself insolvent.”