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Bavaria is fighting for Volocopter guarantee

The air taxi start-up Volocopter is based in Baden-Württemberg, but the federal state refuses to provide a guarantee for the company. Now Bayern wants to step in and get Volocopter to move to Bavaria at the same time. But there is controversy about this.

The CSU has accused Bavarian Minister of Economic Affairs Hubert Aiwanger (Freie Wähler) of blocking the guarantee for Volocopter and the start-up's move to Bavaria.

CSU Group leader Klaus Holetschek emphasized in Munich: “We must not miss this unique opportunity in difficult economic times, otherwise we risk our reputation as an innovative business location.”

Free Voters Group leader Florian Streibl, on the other hand, argued that responsibility to the taxpayer made it necessary to refrain from “high-risk investments by the state government.”

In March, Volocopter received approval from the Federal Aviation Authority to mass-produce its electric air taxis and to train pilots for them. The company urgently needs 100 million euros, but does not receive the necessary guarantee from the state of Baden-Württemberg.

Volocopter could move to Bavaria if the Free State would vouch for 50 million euros. The other 50 million euros would come from the federal government. However, Aiwanger rejects this.

The CSU Group is calling for a statement from Economics Minister Aiwanger and considers his rejection incomprehensible given the groundbreaking significance of Volocopter's investment.

The start-up Lilium, which also develops electric air taxis, is based in Oberpfaffenhofen near Munich. The CSU is stressing technological leadership in this area and urges not to leave it to the Chinese.

The FDP supports the financing of Volocopter by the federally owned KfW Bank with 100 million euros as a convertible loan, but only if the Free State guarantees half of it. Aiwanger is accused of preventing a technology leader from settling in Oberpfaffenhofen.

Volocopter was founded in 2011 and plans to build two-seater electric helicopters as air taxis. Investors include companies such as Mercedes-Benz, the Chinese car company Geely and the US asset manager Blackrock. A convertible loan allows the borrower to repay the loan through company shares.

Source: airliners.de - an offer from Neun Zeichen GmbH


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