China's Geely wants control of flying cab developer Volocopter
- Geely in talks to buy Germany's Volocopter
- The deal could save the startup from possible bankruptcy
- Its controlling stake may be bought by creating a consortium
- The consortium could invest about $95 million for an 85% stake
- Gerhard Sturm's family office will also participate
- Two years ago, Volocopter's valuation was around $1.9 billion
- The new deal would lower the startup's valuation to nearly $110 million
- Geely is now conducting due diligence on the startup
- China calls low-altitude economy a priority
- It will be easier to develop there than in EU or US markets
- Volocopter production may move inside China
- Current Volocopter models are assembled inside Germany
Urbanism
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