Neom-backed Volocopter delays rollout of air taxis

• Focus on insolvency recovery
• Restructuring and stabilisation plan
• Aiming for certification in 2026

German air taxi company Volocopter, a partner in Saudi Arabia’s Neom giga-project, has delayed the launch of passenger services until next year, as it focuses on emerging from insolvency following its acquisition by new Chinese owners.

Borja Blond, CEO of the joint venture between Neom and German manufacturer Volocopter, had said in 2023 that Neom could have flying taxis in the air by 2026 if testing and regulatory work stays on track.

The delay of up to a year follows Volocopter’s insolvency filing at the end of 2023 and its acquisition by Chinese group Wanfeng in March. 

At the time, the company had said it was targeting European Union Aviation Safety Agency (EASA) certification by the end of 2025.

“Due to the subsequent effects of the insolvency proceedings and restructuring, type certification is now targeted for 2026,” a spokesperson for Volocoper told AGBI in an emailed statement. “The immediate focus is on restructuring and stabilising the company.  Technologically, Volocopter remains committed to achieving EASA type certification for the VoloCity aircraft.”

• Neom-backed Volocopter bought by Chinese company
• Neom’s air taxi partner Volocopter files for insolvency
• Neom flying taxis ‘should be ready by 2026,’ says developer

The $500 billion mega-city of Neom, a flagship of Saudi Arabia’s Vision 2030 diversification agenda, had selected Volocopter to supply electric vertical take-off and landing (eVTOL) aircraft for its planned autonomous, zero-emissions transport system.

Neom invested $175 million in Volocopter in 2022 and ordered 15 aircraft, naming the company as the exclusive operator for initial air taxi routes across The Line, Oxagon and Trojena. 

Majid Mufti, CEO of the Neom Investment Fund, sits on Volocopter’s advisory board – a link that underscores the strategic weight Riyadh places on the deal.