Volocopter has been resuced by fellow German company Diamond Aircraft, which completed the acquisition of the eVTOL development company on 13 March.
Having filed for insolvency in December 2024, Volocopter has been seeking a new investor and has now found it in Diamond Aircraft, which reportedly paid €11m for the company.
Diamond says the reorganization of Volocopter will “broaden its aircraft and business portfolio into the field of electric urban air transportation, while enabling Volocopter to reduce costs, retain a highly motivated and skilled workforce, and focus on achieving its certification milestones by 2025”.
The company’s headquarters are to remain at Bruchsal, Germany as it seeks to complete certification and roll-out of its VoloCity air taxi – a project that has cost in excess of €600m to date.
Commenting on the acquisition, Bin Chen, chairman of Diamond Aircraft Group, said: “The future of aviation is shaped by visionaries. Diamond’s stellar portfolio, its manufacturing expertise, and the addition of Volocopter create a formidable lineup of general aviation flying vehicles. Together, we are laying the foundation to advance sustainable air mobility and strengthen Europe as an innovation hub in aviation.”
Tobias Wahl, insolvency administrator and partner at Anchor Rechtsanwaltsgesellschaft mbH, added, “Volocopter’s expertise and highly motivated team have consistently set benchmarks in the eVTOL industry. With Diamond Aircraft, we have found a strong strategic partner who will build on this foundation. My special thanks go to the employees for their spirit and commitment. I am grateful that the team can carry on with their impactful work in the European economy.”
