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.
