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

Verified

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 running out of cash, despite having previously raised over $750 million.
This mirrors struggles faced by competitor Lilium and reflects a wider industry challenge where eVTOL companies burn significant capital without yet achieving widespread commercial passenger flights or full certification.
Volocopter failed to meet its targets for demonstrating passenger flights at the 2024 Paris Olympics and over the Seine, highlighting difficulties in bringing the technology to market.
While some companies are struggling, overall eVTOL investment rose in 2024, but funding is increasingly concentrated among a few major players like Joby and Archer, who benefit from strong airline and government partnerships.

See a mistake? Contact us.

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.