Founded in 2011, Volocopter is known for its aircraft and plans to create air taxi services. The company has conducted test flights in cities such as Singapore and Seoul and signed agreements to develop air mobility infrastructure.
Despite technological advances, Volocopter faces the same challenges as the entire eVTOL industry. The sector, which was once booming with start-ups, now faces declining investments and increasing competition.
Volocopter will continue its operations while restructuring and seeking new investors during the bankruptcy process.
Source: Ferra
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