German air taxi startup Volocopter gains key production certification

German flying taxi startup Volocopter said it was acquiring long-time partner DG Flugzeugbau, in a step that secures its compliance with the European Union air safety regulator’s production standards.

The acquisition, the terms of which were not disclosed, means that Bruchsal-based Volocopter now has production organisation approval in compliance with the European Union Aviation Safety Agency (EASA), in addition to existing EASA design approval.

“Volocopter is now the first and only electric vertical take-off and landing company holding both the required design and production organisation approvals to advance its aircraft towards commercial launch,” it said in a statement.

It recently raised 200 million euros ($237 million) to fund its push for certification. Well-funded rivals Lilium and Joby have meanwhile announced plans to float on the U.S. stock market by merging with listed shell companies. ($1 = 0.8442 euros)

By Douglas Busvine finance.yahoo.com