Volocopter CEO Dirk Hoke recently told German media that the eVTOL developer may need to look at insolvency options, after the company failed to secure loans from the Baden-Wrttemberg and Bavarian states to support its electric aircraft development.
Volocopter has been transparent that the fundraising market has been difficult in the past few years, Hoke said. The German federal government is still very supportive of Volocopter in receiving a convertible loan, but in general, Germany has very limited mechanisms to support startups in the late stages of financing.
After Volocopters first failed attempt to secure a 100-million (US$107-million) loan that would be split equally between the companys home state of Baden-Wrttemberg …
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