Geely will take a minority stake in German flying taxi start-up Volocopter, the latest investment from the Chinese carmaker in Europe’s largest economy after it controversially bought into Mercedes-Benz owner Daimler last year.
The group’s holding company is the lead investor in a financing round by Volocopter to raise €50m, with the aim of bringing its VoloCity all-electric aircraft to commercial launch within the next three years.
In addition to the funding, Geely aims to work with Volocopter to launch air taxis in Chinese cities, adding to the company’s growing transportation arsenal.
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