News Summary

Volocopter, a German electric air taxi company backed by major automakers such as Mercedes-Benz and Geely, has filed for bankruptcy protection. Despite financial struggles, the company plans to continue operations while seeking new investors. Volocopter’s CEO, Dirk Hoke, highlighted the company’s leadership in technological, flight test, and certification progress as a selling point for potential investors. This move follows a similar situation faced by another German electric vertical takeoff and landing startup, Lilium, which recently ceased operations but was temporarily saved by a consortium of investors.