Volocopter aims to uphold normal business operations after filing for bankruptcy as it failed to secure additional capital from its existing shareholders.
Market leaders are gradually ramping up production as focus shifts to the manufacture of type-conforming aircraft for use in certification flight testing.
While the company has made significant progress in development and was nearing first flight of a production-standard aircraft, it has run out of time and money.
CEO Dirk Hoke will leave Volocopter in February 2025 and Dieter Zetsche, former CEO of Daimler-Benz, has been named Chairman of the AAM startup's Advisory Board