Geely and Volocopter enter into joint venture to make urban air mobility a reality
MUSCAT: Driven by state-ofthe-art technology, Geely Holding Group has invested in Germanybased flying-car developer Volocopter GmbH.
Geely, which owns Volvo Cars and has a stake in Daimler AG, led a round of investment that raised 50 million Euros ($55 million) to help the VoloCity air taxi launch commercially within the next three years. Geely’s investment comes as the world is looking towards new-energy vehicles, rather than internal-combustion engines, in a bid to reduce air pollution.
Volocopter recently presented the design for VoloCity, the new air taxi, which has been created according to the specifications put forward by EASA (European Aviation Safety Authority). Volocopter performed a piloted flight integrated into the air traffic management system at Helsinki International Airport in late August, thus proving the compatibility of air taxis with existing air traffic management solutions.
Speaking on the occasion, Li Shufu, chairman of Geely Holding, said, “Geely is transitioning from being an automotive manufacturer to a mobility technology group, investing in and developing a wide range of next-generation technologies. Our latest cooperation with Daimler, building on our partnership in smart and premium ride-hailing services, as well as our joint venture with Volocopter, underlines our confidence in Volocopter air taxis as the next ambitious step in our wider expansion in both electrification and new mobility services.”
Florian Reuter, CEO of Volocopter, added, “Urban mobility needs to evolve in the next few years to meet rising demand. With our Volocopter air taxis, we are adding a whole new level of mobility in the skies. This funding round is allowing us to take great strides towards bringing Urban Air Mobility to life whilst being respectful of our shareholder’s money.”
Ola Källenius, Chairman of the Board of Management of Daimler AG, commented saying, “We are delighted to see our partners at Geely investing into Volocopter and becoming shareholders as we are since 2017. Daimler is committed to supporting innovative new mobility services. One exciting example is Volocopter and the idea of urban air transport.”
Geely also has investments in US-based Terrafugia flying cars, Lotus racing cars, London Taxi Company and Proton, offering their customers the best technology and innovations. Geely has set the benchmark high in safety, style and performance with the introduction of new technology that improves the efficiency of its cars whilst at the same time being environmentally friendly and offering an overall amazing driving experience to its customers.
Towell Auto Centre (TAC), the sole distributor of Geely vehicles in the Sultanate of Oman, has built the trust of customers, over the decades. A spokesperson of TAC said, “For several years, Geely has been on a technology acquisition spree. Over 7000 customers in Oman are appreciating the aerodynamic styling and C-NCAP five-star safety standard, thanks to ex-Volvo design Chief Peter Horbury coming onboard. The highly affordable Geely brand offers more features at an attractive price.”