Volocopter Acquisition by Chinese Conglomerate

Wanfeng, a Chinese conglomerate, aims to acquire the insolvent air taxi manufacturer Volocopter for 10 million euros. The transaction will be conducted through a Berlin subsidiary of Diamond Aircraft, entirely owned by Wanfeng. Tobias Wahl from Anchor Rechtsanwälte has been appointed as the insolvency administrator to develop a restructuring plan.

Volocopter, struggling with certification issues and financial constraints, has previously partnered with Jet Systems Hélicoptères Services. Despite ambitions to operate during the Paris Olympic Games, they only managed demonstration flights due to missing permits. The company's collaboration with ADAC air rescue highlights its potential in emergency missions, though a study by ZEW indicates that air taxis may increase costs and CO2 emissions without significantly reducing travel times.

In parallel, another electric aircraft manufacturer, Lilium, has also filed for insolvency, with proceedings managed by the same law firm. The air taxi sector, once spotlighted by politician Dorothee Bär, faces challenges as Volocopter plans to manage staff reductions, retaining approximately 160 employees. Amidst these developments, Volocopter CEO Dirk Hoke is set to lead Voith by 2025, while former Daimler CEO Dieter Zetsche seeks a successor.