German electrical air taxi firm Volocopter has filed for chapter safety, the newest in a string of comparable startups to hit monetary turbulence. The corporate plans to maintain working whereas it searches for brand new traders.
“We’re forward of our trade friends in our technological, flight check, and certification progress. That makes us a beautiful firm to spend money on whereas we manage ourselves with inside restructuring,” CEO Dirk Hoke mentioned in a press release.
Volocopter’s resolution comes after it spent months teetering on the sting of falling aside. It additionally comes only one week after fellow German electrical vertical takeoff and touchdown startup Lilium ceased operations — solely to be apparently saved by a consortium of traders simply sooner or later later. (That deal is ready to shut in January.)
Volocopter is without doubt one of the extra well-funded electrical air taxi startups, having raised lots of of hundreds of thousands of {dollars} over practically a decade with backing from main automakers like Germany’s Mercedes-Benz and China’s Geely.
