German startup Volocopter said it plans to form a partnership with Chinese automaker Geely that will bring its air taxis to China. According to Volocopter, it has raised 50 million Euros ($55.13 million) in fresh funding from the Chinese company and others including Daimler AG.
Related: Hyundai Appoints NASA Engineer to Run its New ‘Flying Car’ Division
Volocopter, which is building the world’s first manned, electric and vertical takeoff air taxis, said in a statement that the new funds will be used toward bringing its VoloCity aircraft to commercial launch within the next three years.
Geely’s chairman Li Shufu said in the statement that the investment reflected how the Chinese company is transitioning to become a mobility technology group, investing in and developing a wide range of next-generation technologies. Li said:
“Our confidence in Volocopter air taxis as the next ambitious step in our wider expansion in both electrification and new mobility services.”
The investment is not Geely’s first bet on flying machines. It is building a plant in China’s central city of Wuhan to make Terrafugia branded flying cars.
Related: Geely Owned Flying Car Developer Terrafugia Starts Taking Orders
Geely bought a 9.7% stake in Daimler in 2018. The companies have said they plan to build the next generation of Smart electric cars in China through a joint venture. Geely and Daimler also plan to form a premium ride-hailing joint venture in China.
A computer animation professional with over 23 years of industry experience having served in leading organizations, TV channels & production facilities in Pakistan. An avid car enthusiast and petrolhead with an affection to deliver quality content to help shape opinions. Formerly written for PakWheels as well as major publications including Dawn. Founder of CarSpiritPK.com
