Chinese automotive group Zhejiang Wanfeng Auto Wheel has acquired insolvent German eVTOL developer Volocopter for €10 million.
The acquisition was officially confirmed on March 10, 2025, in a notification to the Shenzen Stock Market, according to China eVTOL News, a news site covering the Chinese advanced air mobility industry, which, a few days prior, had already reported that a deal along these lines could be in the making.
The transaction has been conducted through a German entity called “heptus 591”, which was set up in January 2025 by Wanfeng Aviation Industry, the aerospace-focused majority-owned subsidiary of the Chinese automaker.
According to the terms that have been disclosed, the Chinese firm is acquiring Volocopter’s tangible assets and intellectual property rights and will also be assuming some specific contract rights and obligations.
It is not yet clear what plans Wanfeng has for the future of Volocopter and its research and production facilities in Bruchsal, Southern Germany. The notification announcing the acquisition referred in vague terms to the new owner using its own funds “to develop advanced eVTOL products and create a new growth engine for the company”.
It is also not known what will happen to the company’s staff. Volocopter’s entire workforce was laid off on March 5, 2025, although some reports have stated that that the new owners may retain about a quarter of the 500-strong workforce.
Volocopter is not Wanfeng Aviation Industry’s only European investment. The Chinese aerospace firm also controls Austria-based Diamond Aircraft, one of the world’s leading manufacturers of light training aircraft.
