German flying taxi startup Volocopter said on Wednesday it would sell 150 electric vertical take-off and landing aircraft to its joint venture with a unit of Chinese automaker Zhejiang Geely Holding Group.
Volocopter, which counts Daimler, BlackRock and Intel Capital as some of its investors, said it expects the partnership to bring eVTOL aircraft to China within the next three to five years. China represents the"biggest single market opportunity" for the urban air mobility industry, said Florian Reuter, Volocopter's chief executive officer, in a statement.
Volocopter did not disclose any financial details of the sale. The company in April had announced the formation of the joint venture with Zhejiang Geely's Aerofugia. Volocopter, which has raised €322 million from its investors, added that Zhejiang Geely's top boss Daniel Li Donghui had joined its advisory board.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Thai SCB, AIS shares jump over online lending JVBANGKOK : Shares in Thailand's third largest lender, Siam Commercial Bank Pcl (SCB) jumped in morning trading on Wednesday, following its announcement of a joint venture with the country's top mobile network, Advanced Info Service Pcl (AIS). SCB and AIS late on Tuesday announced the creation of AISCB, to
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
With Gucci bags and Dyson appliances, Evergrande wooed retail investorsSHANGHAI : Lured by the promise of yields approaching 12per cent, gifts such as Dyson air purifiers and Gucci bags, and the guarantee of China's top-selling developer, tens of thousands of investors bought wealth management products through China Evergrande Group. Now, many fear they may never get A goodie bag from Tiffany & Co. may help now
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Shares in Brazilian airline Gol rise after flying taxis announcementSAO PAULO :Shares in Brazilian airline Gol Linhas Aereas Inteligentes climbed on Tuesday after it announced an agreement with lessor Avolon to buy or lease 250 electric air taxis.Gol's preferred shares rose 2.3per cent in early trading in Sao Paulo, to 19.30 reais, while the broader Bovespa index was up aroun
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Green-thumbed Thai cabbies turn taxis into gardens amid COVID-19 crunchBANGKOK : With demand for taxis drying up in Thailand and thousands of drivers leaving town, one Bangkok cab company has turned its vehicles into mini vegetable gardens, hoping to take the edge off the coronavirus crunch.The Ratchapruek Taxi Cooperative has taken hundreds of cars off the road in the past
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
French football stickers startup valued at US$4.3 billionPARIS: French gaming startup Sorare, which offers users the chance to collect and trade virtual football stickers, said Tuesday (Sep 21) it had raised a record $680 million (580 million euros) from investors, valuing the group at $4.3 billion. The amount of money raised in a single private fundraising roun
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Source: BusinessTimes - 🏆 15. / 51 Read more »