“Volocopter Finds Buyer at 12th Hour!”
The German eVTOL soap opera continues as news broke late last week that Volocopter has found a new buyer at the 12th hour. German news outlet, wiwo.de, reported that an Austrian aircraft manufacturer, Diamond Aircraft, is taking over the eVTOL company. Diamond is owned by the Chinese billion-dollar company Wanfeng, a supplier of car parts. Presently, details are scant as Volocopter has made no comment on this potential sale.
wiwo.de writes, “Sources close to the company say the new owner wants to significantly reduce the team as a first step. According to the report, only around 160 of the approximately 500 employees will continue to work at the eVTOL company.”
Diamond primarily produces motor gliders and small aircraft, with a product range aimed at private buyers. The company has been experimenting with craft that have a hybrid drive for some years. Therefore, there are ‘synergies’ surrounding this potential sale.
Wanfeng Aviation Industry bought Diamond in 2017 after many years of financial crises and then filled the management board with its own staff.
The Austrians are profitable and achieved sales of EUR210 million in 2023. The company employs over 600 people and has a location in Egelsbach, Hesse, about 100 kilometres from Volocopter’s HQ in Bruchsal.
Reading between the media lines, there is some scepticism of this sale. German media website, electrive.com writes that Volocopter “has apparently found an investor… the deal has not yet been officially confirmed.”
After the recent Lilium debacle of buy-out promises, is this once bitten twice shy for the German eVTOL industry? Therefore, with little news appearing and with no confirmation from Volocopter, it is very much fingers-crossed.
For more information
News Source: https://www.wiwo.de/
(Top image: Volocity in Flight)
For the latest news, insights and content regarding the global Advanced Air Mobility market, please join the following eVTOL Insights channels: WhatsApp, Facebook, Instagram, Spotify, Apple Podcasts, YouTube, X and LinkedIn.