Air taxi maker Volocopter files for insolvency

• German rival Lilium filed for insolvency in October, although just received a lifeline from new investors.
• American eVTOL makers Archer Aviation and Joby Aviation are expected to have lost more than $1 billion combined in 2024.

Zoom in: Volocopter investors include Neom, GLy Capital Management, WP Investment, Geely Group, Daimler, DB Schenker, Sumitomo, b2 Venture, Blackrock, Team Global, Mercedes-Benz, Micron Ventures, Avala Capital, Atlantia, Continental AG, NTT, and Tokyo Century.

The bottom line: This is a race between financing and regulatory certification for Volocopter, which says it will maintain operations and develop a restructuring plan by the end of February.