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Business deals

Geely invests in German startup to bring air taxis to China

Volocopter is building world's first manned, electric cabs for vertical takeoff

An air taxi by German company Volocopter is pictured at the Rotorcraft Asia trade show in Singapore on April 11.   © Reuters

BEIJING (Reuters) -- German startup Volocopter said it plans to form a partnership with Zhejiang Geely Holding Group that will bring its air taxis to China and that it has raised 50 million euros ($55.13 million) in fresh funding from the Chinese company and others.

Volocopter, which says it is building the world's first manned, electric and vertical takeoff air taxis, said in a statement on Monday that the other investors in the new funding round include German luxury car maker Daimler, which it had previously raised money from.

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