On September 9, Geely Holding and Daimler announced that the two sides will jointly contribute 50 million euros to lead the first round of financing of the Volocopter C round of the German city air travel company. After the current round of financing, both parties will hold 10% of each share. After the completion of this round of financing, both Geely Holdings and Daimler will enter the Volocopter Board of Directors. It is understood that Geely Holding and Volocopter will establish a joint venture company in China to introduce the world's leading urban air travel solution to China. Geely will be responsible for the production and marketing of Volocopter products in China.
Founded in 2011, Volocopter is a pioneer in the global urban air travel industry, aiming to provide point-to-point airborne electric travel services, effectively improving travel efficiency and improving metropolitan transportation systems. After this round of financing, Volocopter's total financing will reach 85 million euros. Investors include Geely Holding, Daimler and Intel. This round of financing will help Volocopter's Volocity model gain commercial certification from the European Aviation Safety Agency (EASA) in the next three years to boost the commercialization process.
At present, Volocopter has accumulated a wealth of electric vertical take-off and landing flight technology. Volocopter's first generation products carried out manned flights for the first time in 2011. In 2017, Volocopter cooperated with the Dubai Road Transport Authority to achieve a successful test flight of a two-seat unmanned aerial taxi. In 2018, the Volocopter prototype was successfully tested at the Helsinki International Airport in Finland, achieving perfect compatibility with the air traffic control system.
The latest two-seater models have a top speed of 110 kilometers per hour and a cruising range of 35 kilometers, which can meet the short-distance travel needs of more than 90% of large cities. In October this year, Volocopter will also test the VoloCity in Singapore and its supporting landing and landing infrastructure (VoloPort).
It is predicted that by 2030, more than 60% of the world's population will live in cities. Air travel in cities will be the best solution to the challenges of urbanization. Deloitte's "Future Flying Cars for Mobile Travel" report predicts that in 2040, the US "air taxi" market alone will reach $17 billion.
Since last year, Geely Holdings has become the long-term strategic investor and the largest single shareholder of Daimler Group. This joint investment Volocopter will be the third project for the two sides to deepen cooperation. This cooperation means that the scope of strategic cooperation between the two parties has been developed from the integration of existing resources and business, and extended to jointly explore the future development of innovative business, reflecting the strategic mutual trust between Geely Holding and Daimler. bright future.
In addition, in recent years, Geely Holding has taken the initiative to transform into a mobile travel service provider, through strategic investment in Cao Cao, with Daimler to set up high-end travel companies and invest in Volocopter, to provide three-dimensional, personalized shared travel services to users around the world.
Cao Cao's trip is a strategic investment business of Geely Technology Group's Geely Technology Group's “New Energy Vehicle Sharing Ecology”, which aims to create and provide a one-stop healthy, low-carbon, shared travel lifestyle for users. With the gradual popularization of new energy vehicles, the rapid development of the network car business, positioning in the car segmentation market, facing the middle and high-end customer groups, providing differentiated, personalized service Cao Cao travel has achieved steady development.
Weixing Technology Co., Ltd., which is located in the field of high-end car travel services, has quietly established six months after the signing of the cooperation agreement between Geely and Daimler. The initial models will include Mercedes-Benz S-Class, E-Class, and V-Class luxury. The multi-purpose car and the Mercedes-Maybach sedan, which means that Geely is about to start substantial progress in the field of high-end car travel services.
This time, Geely Holding and Daimler will jointly lead Volocopter. Geely will work with advanced partners to operate the air taxis and infrastructure necessary for urban air traffic, and build an ecosystem of intelligent travel, which will take hours on the ground. The journey is shortened to a few minutes in the air. Li Shufu, Chairman of Geely Holding Group, said: “Volocopter is the leader in the global urban innovation travel model. Through the establishment of a joint venture with Volocopoter, Geely Holding will make full use of its global R&D system and industrial layout to help it develop into the Asian market and provide users with the most Good travel experience. Geely Holding and Daimler seize the opportunity, forward-looking layout, will continue to lead the development of electric mobility and digital services."
With investment and expected to participate in Volocopter operations, Geely Holding will provide diversified, three-dimensional security, efficient and convenient travel services to users around the world. At the same time, Geely Holding Group will continue to invest more in product collaborative research and development, continue to enhance its capabilities in frontier technologies such as driverless, automotive chips, operating systems, laser communications, etc., actively deploying the future smart three-dimensional travel ecology, and steadily promote innovative technology. The construction of enterprises will gradually realize the transformation of automobile manufacturers to mobile travel service providers.