Volocopter, a German City air travel company, announced that it had completed the first round of C financing of 50 million euros, led by Zhejiang Geely Holdings Group, and Daimler Stock Company was also involved in the investment, with 10% of each. This round of financing will help Volocopters Volocity model obtain the commercial certification of the European Aviation Safety Agency (EASA) in the next three years, further boosting the commercialization process.
Volocopter is a leader in innovative travel patterns in cities around the world. By establishing a joint venture with Volocopter, Geely Holdings will make full use of its R&D system and industrial layout to help it develop the Chinese market and provide users with the best travel experience. Geely Holding Group Chairman Li Shufu said.
This is not Daimlers first investment in Volocopter. Daimler has been a shareholder of the start-up air travel company since 2017. Daimler is committed to supporting innovative exploration of new travel service models. Volocopter and its concept of urban air travel are exciting examples. Conlinson, chairman of Daimlers board of directors, said.
After investing in Volocopter, Geely Holdings and Daimler have reached three projects. Geely Holdings became Daimlers long-term strategic investor and largest single shareholder last year. In the field of travel, the two sides have reached an agreement to form a joint venture company to enter the high-end special vehicle field. For the whole vehicle, the two sides will jointly develop smart brand in the global operation and bring the electric version of Smart to consumers. The two sides will form a joint venture company in the form of 50:50. Since then, the cooperation between the two sides has involved the fields of heaven and earth and manufacturing.
Geely had previously laid out the Flying Automobile Company.
Founded in 2011, Volocopter provides point-to-point electric air travel services. Officially, Volocopter has accumulated a wealth of electric vertical takeoff and landing flight technology. In 2017, Volocopter cooperated with Dubai Road Transport Authority to successfully test two unmanned aerial taxis. In 2018, the Volocopter prototype was successfully tested at Helsinki International Airport, Finland, and was compatible with the air traffic control system. Its latest two models have a maximum speed of 110 kilometers per hour and a range of 35 kilometers, which can meet the short-distance travel needs of more than 90% of large cities.
According to some data, the market potential of urban air taxi is huge. Deloittes report Future Flying Vehicles for Mobile Travel predicts that in 2040, the size of the air taxi market in the United States alone will reach $17 billion.
Not long ago, Volocopter announced a new air taxi designed to meet EASA specifications. After the completion of this round of financing, Volocopters total financing will reach 85 million euros, Geely Holdings and Daimler will enter the Volocopter board of directors.
However, this is not the first time Geely has dabbled in air travel. In 2018, Geely acquired Terrafugia Taili Flying Vehicle, the first batch of which is expected to be officially launched this year. Geely previously said that with Geelys help, Tailis team of engineers in the United States has tripled and established a new research institute, and also established research and development in Hangzhou, where Geelys headquarters is located. Organization.
It is reported that the flying car will use a hybrid engine consisting of internal combustion engine and lithium iron phosphate battery, while the throttle valve enhances the propulsion function, and the flying vehicle can use additional power to rapidly advance in a short time. At present, Taili Flight belongs to Geely Science and Technology Group, and Cao Cao travels in the business sector of Unified Group.
Acquisition and Writing: Nandu Journalist Zhong Jian Ting