So no flying taxis then. Let's hope the robot dinosaurs make it though.

The dream of flying taxis just hit a big roadblock. Volocopter, a German company making electric air taxis, has gone bankrupt. Over 10 years, the company raised $544 million from investors like Saudi Crown Prince Mohammed bin Salman, Mercedes-Benz and Intel. However, the company struggled to secure the additional funding needed to stay operational and filed for bankruptcy.

Despite its ambitious goals, Volocopter's financial troubles began to surface as it faced rising costs and funding challenges. The company's bankruptcy filing at the Karlsruhe Local Court in December 2024 starkly acknowledged these issues. Volocopter cited difficulties raising sufficient capital to sustain operations and move toward market entry.

The company's struggles became apparent when it was forced to cancel test flights at the Paris Olympics due to delays in aircraft engine certification. While Volocopter claimed it had completed 75% of the EASA certification process for the VoloCity, the lack of fresh capital left it unable to cross the finish line.

For NEOM, Volocopter was supposed to be a big part of its zero-emissions transportation plan. NEOM's CEO, Nadhmi Al-Nasr, said the partnership would help bring air taxis to daily life. He believed Volocopter's work supported Saudi Arabia's goals for a cleaner, greener future.

But now, with Volocopter filing for bankruptcy, NEOM's plans for air taxis might face delays. The city could have to look for new partners or solutions.

Read the full story at AOL