Diamond Aircraft Group Austria has reported that it will reorganise Volocopter, the German electric air taxi manufacturer that filed for insolvency in December 2024. As part of the reorganisation, Volocopter remains headquartered in Bruchsal, Germany, but is now integrated within Diamond Aircraft's operations. This strategic move broadens Diamond's portfolio into electric urban air transportation while securing Volocopter's future and ensuring its continued development.
Volocopter, known for its VoloCity eVTOL aircraft, faced financial challenges despite backing from prominent investors like Mercedes-Benz and Honeywell. The company filed for insolvency proceedings at the Karlsruhe Local Court on December 26, 2024 due to an inability to secure necessary funds for ongoing operations.
The restructuring under Diamond Aircraft's leadership is expected to reduce costs, retain Volocopter's skilled workforce and focus on achieving certification milestones by 2025. This collaboration positions both companies to contribute significantly to the sustainable growth of the aviation industry.
Bin Chen, Chairman of Diamond Aircraft Group, expressed that combining Diamond's manufacturing expertise with Volocopter's innovation lays a strong foundation for advancing sustainable air mobility and reinforcing Europe's role as an aviation innovation hub.
Tobias Wahl, insolvency administrator at Anchor Rechtsanwältegesellschaft mbH, noted that Diamond Aircraft is a strong strategic partner to build upon Volocopter's foundation, ensuring the team's impactful work continues in the European economy.
Diamond Aircraft, headquartered in Austria with facilities in Canada and China, is amongst the leading aircraft manufacturers in general aviation worldwide. Founded in 1981, Diamond has pioneered many aviation firsts and achieved numerous milestones and industry expert accolades.
Diamond has produced more than 5,500 all composite certified single and twin-engine aircraft, including the two-seater DA20, four-seater DA40, five-seater DA50, four-seater DA42 and the five-seven-seater DA62, the remote sensing turnkey solutions DA42 MPP and DA62 MPP, the aerobatic tandem trainer series DART, as well as the eDA40, which will be the first EASA/FAA Part 23 certified electric aircraft.
