Insolvent air taxi startup Volocopter has officially confirmed its acquisition by Diamond Aircraft, a move that integrates the German eVTOL (electric vertical takeoff and landing) pioneer into the Austrian aviation manufacturer’s structure. Despite the takeover, Volocopter’s headquarters will remain in Bruchsal, Germany.
Volocopter announced that it has been incorporated into Diamond Aircraft Industries, which is based in Wiener Neustadt, Austria. Diamond Aircraft itself is a subsidiary of the Wanfeng Aircraft Division, part of China’s Wanfeng Auto Holding Group.
Volocopter described its new parent company as an “internationally renowned aircraft manufacturer with over four decades of experience.”
The acquisition follows months of uncertainty after Volocopter filed for insolvency on December 26, 2024. The restructuring under Diamond Aircraft aims to streamline operations, cut costs, and retain key employees, while allowing the company to focus on achieving certification goals for its air taxi, the VoloCity, by 2025. However, Volocopter’s statement on the acquisition was notably brief, omitting details about potential job cuts and financial terms of the deal.
Last week, reports indicated that Diamond Aircraft intended to downsize Volocopter’s workforce from around 500 employees to approximately 160. Volocopter had previously given notice to all employees in March, leaving questions about the extent of planned layoffs. The company’s announcement vaguely referenced efforts to “retain highly motivated and qualified employees,” but did not provide specifics on staffing plans