China Wanfeng Group to acquire German eVTOL company Volocopter

It is reported that Diamond Aircraft, an Austrian subsidiary of China Wanfeng Group, has made an acquisition offer to Volocopter, a German eVTOL company that has filed for bankruptcy. The acquisition agreement has been basically finalized, but the transaction amount has not yet been announced. Volocopter was founded in 2011 and is headquartered in Bruchsal, Germany. It is a startup company focusing on the research and development of all-electric vertical take-off and landing aircraft. Although Volocopter filed for bankruptcy protection from the court last Christmas due to high R&D expenses and lack of funding sources, this acquisition is expected to bring it new life.