Saudi-backed Volocopter wants to be Tesla of the sky with $10 billion IPO goal

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Saudi-backed air-taxi pioneer Volocopter said it expects to remain independent until after its first commercial flights in 2024 despite regular interest from potential suitors, with a stock market listing likely the following year.

According to CEO Dirk Hoke, starting passenger services in time for the Paris Olympics could give the German startup an advantage over rivals and contribute to a valuation of $10.2 billion or more. Volocopter has chosen not to list, despite the fact that many of its closest competitors have done so. British company Vertical Aerospace Ltd. and German startup Lilium NV are two examples of flying taxi companies that have opted to list after merging with unrelated businesses.

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Saudi-backed Volocopter wants to be Tesla of the sky with $10 billion IPO goal

Saudi-backed air-taxi pioneer Volocopter said it expects to remain independent until after its first commercial flights in 2024 despite regular interest from potential suitors, with a stock market listing likely the following year.

According to CEO Dirk Hoke, starting passenger services in time for the Paris Olympics could give the German startup an advantage over rivals and contribute to a valuation of $10.2 billion or more. Volocopter has chosen not to list, despite the fact that many of its closest competitors have done so. British company Vertical Aerospace Ltd. and German startup Lilium NV are two examples of flying taxi companies that have opted to list after merging with unrelated businesses.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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