Insolvent Company Revived by Diamond Aircraft in $11M Deal

Volocopter has resumed work towards the certification of its VoloCity eVTOL, this time under the guiding hand of Diamond Aircraft. The manufacturer filed for insolvency late last year before being saved in a $11 million deal this March.

Volocopter had big plans: high-profile air show appearances, flashy partnerships with Honeywell and Mercedes-Benz, and a demo flight debut planned for the 2024 Paris Olympics. However, after the European Union Aviation Safety Agency (EASA) failed to certify its engine in time for flight testing, investor interest dried up. This forced the company into insolvency in late 2024. At that point, VoloCity had reportedly completed around three-quarters of EASA’s certification requirements.

The saving grace came from China-based Wanfeng Auto Holding Group, which owns Austrian OEM Diamond Aircraft. Wanfeng scooped up Volocopter’s assets, which were originally valued at 42 million Euros, for just 10 million Euros (roughly $11 million). Despite the change in ownership, Volocopter kept its name, and Diamond began using its certification experience to help get VoloCity across the regulatory finish line.

“The future of aviation is shaped by visionaries,” stated Bin Chen, chairman of Diamond Aircraft Group. “Diamond's broad portfolio is further strengthened by Volocopter, the VoloCity [eVTOL], and future models. Together, we are creating the foundation to further develop sustainable air mobility and strengthen Europe as an innovation hub in aviation.”

Diamond Aircraft brings well-established credibility and infrastructure, with upwards of 5,500 aircraft in operation worldwide and two major production facilities in Austria and Canada. This expertise has pushed Volocity’s certification effort to progress again.

Volocopter’s two-seat VoloCity, equipped with 18 rotors and nine batteries, has already racked up more than 2,000 test flights in its various iterations. Though its high-visibility campaigns have taken a back seat, the company says it’s focused on completing certification and preparing for production and delivery.

FMI: www.volocopter.com