Zhejiang Geely Holding Group this week announced plans to bring urban air mobility (UAM) vehicles, or flying taxis, to China and provide mobility services to consumers.

The Geely Technology Group subsidiary said it planned to establish a joint venture with Volocopter of Germany to produce its autonomous flying vehicles in China and has already filed an application for a business licence with the Chinese authorities.

The Volocopter 2X two-seater UAM was displayed at the Shanghai Auto Show this month. It can travel at 100km per hour for 27 minutes at a maximum altitude of 2,000 meters, carrying a load of 160kg.

Other models are under development by Volocopter, including the fifth-generation VoloCity which is currently undergoing certification in Europe.

Geely Holding Group became one of the key investors in Volocopter back in 2019, joining Daimler and financial investors such as BlackRock, DB Schenker and Intel Capital.

Volocopter's CEO Florian Reuter said in a statement "Geely's market leadership in China and forward-thinking approach to expanding mobility options make them a great strategic investor. They are an invaluable partner for bringing urban air mobility to China – one of the most promising markets for the UAM industry globally".