Volocopter and Geely Joint Venture Orders 150 Volocopter Aircraft
CHENGDU, China and BRUCHSAL, Germany, Sept. 22, 2021 /PRNewswire/ -- Volocopter, the pioneer of urban air mobility (UAM), and Aerofugia, a subsidiary of China's innovation-driven group, Geely Technology Group, announced the finalization of their joint venture (JV) company to introduce UAM in China. Operating under Volocopter (Chengdu) Technology Co., LTD (Volocopter Chengdu), 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. Chengdu is the capital of Sichuan Province and a significant economic, cultural, and transportation hub in Western China. It is also a key manufacturing base for Geely – one of many great synergies the JV will profit from on top of Geely's production capability and industrial distribution expertise.
At the opening ceremony, Volocopter also signed a Contract Manufacturing Agreement with Volocopter Chengdu and General Aviation Manufactory Base of Geely Technology to produce Volocopter's aircraft and parts in China. This production agreement will strategically satisfy the fast-growing demand for air taxi services after commercial launch in China.
"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," says Florian Reuter, CEO, Volocopter. "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, shares the same sentiment. He says, "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."
UAM refers to a new mode of urban transportation that uses electric vertical take-off and landing (eVTOL) aircraft to move people or goods within lower urban and suburban airspaces. It helps relieve the strain on increasingly congested city roads and allows people and goods to reach their destinations faster and safely. As the first and only eVTOL company globally to obtain Design Organisation Approval from European Union Aviation Safety Agency in 2019 and subsequently secure Production Organisation Approval in 2021, Volocopter has been leading in the UAM industry, with its family of aircraft for passengers (VoloCity and VoloConnect), and goods (VoloDrone).
In April 2021, Geely and Volocopter confirmed that they would form a joint venture to introduce the new mode of transportation to China. Both companies will jointly participate in the Zhuhai Airshow at Hall 3 from 28 September to 3 October.
About Volocopter
Volocopter is building the world's first sustainable and scalable urban air mobility business to bring affordable air taxi services to megacities worldwide. With the VoloCity, the company is developing the first fully electric "eVTOL" aircraft in certification to transport passengers safely and quietly within cities. Volocopter leads and cooperates with partners in infrastructure, operations, and air traffic management to build the ecosystem necessary to 'Bring Urban Air Mobility to Life'. Founded in 2011, Volocopter has 400 employees in offices in Bruchsal, Munich, and Singapore. The company raised a total of €322 million in equity from investors including Daimler, DB Schenker, Micron, BlackRock, and Intel Capital.
About Geely Technology Group
Geely Technology Group is an innovation-driven group, focusing on R&D of technology and new business mode. After all these years, the group has built a diversified business portfolio, including New Material Technology, New Energy Technology, General Aviation, Commercial Aerospace, and Motorcycles. Currently, the Group has invested in and operates 20 subsidiaries enterprises, holds over 3000 patents, and employs nearly 30,000 employees.
About Aerofugia
Established in September 2020, AEROFUGIA is a technology company engaged in UAVs, IoT platforms and innovative services. It is the practitioner of general aviation strategy of Geely Technology Group as well as a provider of environmentally-friendly crossover integrated solution for new application of general aviation.
SOURCE Volocopter
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