German flying taxi startup Volocopter will promote 150 electrical vertical take-off and touchdown (eVTOL) plane to its three way partnership with a unit of Chinese language automaker Zhejiang Geely Holding Group.
Volocopter, which counts Daimler, BlackRock and Intel Capital as a few of its traders, mentioned it expects the partnership to convey the air taxis to China inside the subsequent three to 5 years.
China represents the “greatest single market alternative” for the city air mobility trade, mentioned Florian Reuter, Volocopter’s CEO, in an announcement.
Volocopter didn’t disclose any monetary particulars of the sale. The corporate in April had introduced the formation of the three way partnership with Zhejiang Geely’s Aerofugia.
Volocopter, which has raised EUR 322 million ($377.87 million) from its traders, added that Zhejiang Geely’s high boss Daniel Li Donghui had joined its advisory board.