Volocopter, a pioneer of urban air mobility (UAM), and Aerofugia, a subsidiary of China’s innovation-driven group, Geely Technology Group, have announced the finalisation of their joint venture (JV) company to introduce UAM in China. The JV has signed an agreement to purchase 150 Volocopter aircraft.
Geely Holding Group’s CEO, Daniel Li Donghui, has joined Volocopter’s Advisory Board.
The JV, headquartered in Chengdu, will work closely with the aviation, transportation, and government agencies in Chengdu and other parts of mainland China to bring urban air mobility to China within the next three to five years
This production agreement will strategically meet the the fast-growing demand for air taxi services after commercial launch in China.
Florian Reuter, CEO, Volocopter, says: “Geely has been a valuable partner since they became our strategic investor in 2019. Today marks another important milestone on our journey to bring affordable electric air mobility to China, the biggest single market opportunity for the UAM industry. With the joint venture company up and running and Daniel Li Donghui as the new Geely representative on our Advisory Board, we are in pole position to introduce air taxi services globally in a safe, sustainable, and practical manner.”
Jing Chao, Chairman of Volocopter Chengdu, adds: “With its establishment, Volocopter Chengdu can accelerate the deployment of air taxis and UAM business. UAM is an important part of the new aviation industry, which coincides with Aerofugia’s technical route and business plan of ‘new energy, vertical landing and take-off, and autonomous driving.’ As an investor for both Aerofugia and Volocopter, Geely looks forward to Volocopter Chengdu realizing urban air mobility in the near future.”
In April 2021, Geely and Volocopter confirmed that they would form a joint venture to introduce the new mode of transportation to China.
Volocopter has 400 employees in offices in Bruchsal and Munich in Germany, and Singapore. The company has raised a total of €322 million in equity.
