Advanced Air Mobility Modern Flying News

Electric Air Taxi Manufacturer Volocopter Runs Out of Cash

Manufacturer has raised an estimated $750 million in private capital from backers including Mercedes-Benz, Honeywell, and Blackrock.

Friday, January 03, 2025 at 04:11 PM ET

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Volocopter’s VoloCity electric vertical takeoff and landing (eVTOL) air taxi flies in downtown Manhattan in New York City in November. [Courtesy: Volocopter]

Key Takeaways:

Volocopter, an eVTOL air taxi manufacturer, has filed for insolvency in Germany due to a lack of cash, despite having raised over $750 million, and is now seeking new investors.
This financial struggle reflects a broader challenge in the eVTOL industry, with significant cash burn predicted and most companies, including Volocopter, having yet to achieve commercial passenger flights or full certification.
Volocopter failed to meet its goals of demonstrating passenger-carrying flights at the 2024 Paris Olympics, highlighting the difficulties in bringing these advanced air mobility services to market, even as other major players with strong partnerships continue to attract substantial funding.

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Volocopter—the manufacturer of a two-seat, electric vertical takeoff and landing (eVTOL) air taxi it expects to fly paying customers later this year—is out of cash.

The firm last week filed for insolvency at a court in Germany, where it is based, as it searches for new investors. Tobias Wahl, the company’s court-appointed attorney, said in a news release that it would develop a “restructuring concept” to be shared with investors by the end of February.

Jack Daleo

Jack is a staff writer covering advanced air mobility, including everything from drones to unmanned aircraft systems to space travel—and a whole lot more. He spent close to two years reporting on drone delivery for FreightWaves, covering the biggest news and developments in the space and connecting with industry executives and experts. Jack is also a basketball aficionado, a frequent traveler and a lover of all things logistics.