Geely eyes $95m rescue of German flying taxi firm

Geely is considering a big investment in Germany’s Volocopter GmbH to help the flying taxi company avoid bankruptcy.

Sources close to the matter state Geely plans to lead a consortium, investing approximately US$95 million for an 85% stake in Volocopter.

This potential deal would lower Volocopter’s valuation from US$1.9 billion in 2022 to about US$110 million.

Geely aims to complete its due diligence by next month. While there are other interested bidders, terms remain unfinalized, and the negotiations might not guarantee a deal.

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