Multiple news services in Asia report that Zhejiang Geely Holding Group (Geely Holding) is considering a major investment in Germany’s Volocopter GmbH “to help the flying taxi company avoid bankruptcy,” reports TechinAsia.
The media outlet continues:
“Sources close to the matter state Geely plans to lead a consortium, investing approximately USD95 million for an 85% stake in Volocopter. This potential deal would lower Volocopter’s valuation from USD1.9 billion in 2022 to about USD110 million….Geely aims to complete its due diligence by next month.”
In September 2019 Volocopter, announced that it had signed the first closing of its Series C funding round, which was led by Geely.
For more information
https://finance.yahoo.com/news/china-geely-talks-control-flying-150615401.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAHNWNkykdqEwzzKerFYAbwZaCiM4C4TZCXpHaChbr1Zky52Zujk2VqjUeS9QUSrBpN2TJvq0g7ttKoUkMf1-zM-HM4k5CoBJy9B7wZGHqwlOEuBTYIUX0XkLac84vzQPLQmZjmwpv79FetW1y91g6bqhVpx7_1rpu4zIsmVgRrfZ
https://www.techinasia.com/news/geely-eyes-95m-rescue-german-flying-taxi-firm