While the company has made significant progress in development and was nearing first flight of a production-standard aircraft, it has run out of time and money.
CEO Dirk Hoke will leave Volocopter in February 2025 and Dieter Zetsche, former CEO of Daimler-Benz, has been named Chairman of the AAM startup's Advisory Board
Although shareholders have put more money into advanced air mobility, getting government loans could still be crucial, and avoiding program delays will be key.
Advanced air mobility startup Volocopter has secured fresh funding that is expected to finance the company beyond certification of the VoloCity multicopter.