Daimler Interested In Flying Taxis, Invests In Volocopter

Mercedes-Benz's parent company Daimler is looking at the future by investing an undisclosed sum into a flying taxi firm called Volocopter.

The announcement was made by Velocopter, Reuters says, and it's part of a €25 million ($29.4 million) investment that included other firms as well.

Not much is known about Volocopter's flying taxi at this point, except that will have an electric powertrain, carry up to five occupants and feature vertical take-off and landing. If everything goes to plan, then the company is expected to carry out the first demonstrations in the fourth quarter of this year.

Volocopter isn’t the only firm interested in developing flying cars, as commercial aircraft and helicopter manufacturer Airbus is looking into a similar vehicle, albeit with a single seat. German start-ups Lilium Jet and eVolo have similar plans, as do US-based Terrafugia and Joby Aviation, all of which could become direct competitors in the market.

Daimler is also involved in a ride-sharing company called Hailo since last summer, after it bought a controlling stake in the Uber rival.