Volantech Aviation founder and CEO Dong Ming stated in a recent media interview that the company aims to achieve global top-two or even first-place technical status this year. This follows the company's completion of China's first manned transition flight of its VE25-100 aircraft in late May at Zigong Lantian Airport in Sichuan Province. Globally, only two companies—Joby Aviation of the United States and Vertical Aerospace of the United Kingdom—had previously achieved this technical milestone. The breakthrough positions China among the world's leading nations in advanced air mobility (AAM) research and development.
Manned transition flight refers to the complete process where an aircraft, under test pilot control, smoothly switches from vertical takeoff and landing mode to horizontal cruise mode using fixed wings, and vice versa. Industry experts recognize this flight test as one of the most critical subjects for commercial passenger eVTOL (electric vertical takeoff and landing aircraft) due to its extreme technical challenges. The achievement serves as what the industry calls "the litmus test for commercial eVTOL."
Volantech Completes China's First Manned eVTOL Transition Flight in Late May
Volantech Aviation conducted the manned transition flight of its VE25-100 aircraft at Zigong Lantian Airport in Sichuan Province in late May. The test pilot successfully transitioned the aircraft from rotorcraft vertical takeoff mode to fixed-wing horizontal cruise mode and completed the reverse transition. Prior to Volantech's achievement, only Joby Aviation of the United States and Vertical Aerospace of the United Kingdom had successfully overcome this technical challenge globally.
Company Secures Nearly 1 Billion Yuan in C+ Funding Round
Volantech completed its C+ financing round with nearly 1 billion yuan raised. This marks the company's second major funding round within one month. Since its establishment five years ago, Volantech Aviation has completed 13 market-based financing rounds, accumulating over 5 billion yuan in total fundraising.
Dong Ming stated that current reserve funds can support the company's stable operations until 2028-2029, with no short-term capital shortage pressure. He explained that Volantech had sufficient capital reserves two years ago, and the two financing rounds this year further guarantee funding for the company's three-type, three-generation aircraft development plan. Current funds primarily support the development, airworthiness certification, and small-batch trial production of the VE25-100 initial model. Surplus funds are allocated to advance research and development of next-generation frontier technologies.
Regarding the next financing round, Dong Ming disclosed that the company maintains regular communication with various capital sources but has not finalized the launch timing or fundraising plan for the new round. He noted that Volantech's investment screening logic has shifted, with the company now prioritizing investors with strategic value and significance.
Dong Ming observed that investor industry knowledge in the low-altitude economy sector continues to deepen, with investment confidence rising. He attributed this to the continuous improvement in the industry's and the company's commercial certainty. The composition of capital market funding sources has undergone significant changes, transitioning from early-stage angel institutions to local state-owned capital platforms, with private market-oriented capital now showing significantly increased activity.
On the IPO process, Dong Ming told reporters that Volantech has maintained contact and communication with major capital institutions since late 2024. However, the company has not formed decisions on listing location, path, or timeline at this stage. He noted that some industry peers have conducted explorations and attempts, and Volantech will initiate related work at an appropriate time. "We are relatively calm now, with acceptable funding pressure and no strong urgency for listing," he said.
Volantech Plans Three R&D Focus Areas Through 2029
Dong Ming outlined three future research and development directions. First, the company will develop next-generation aircraft configurations including high-speed long-range models and small private aircraft. Second, Volantech will focus on key technology breakthroughs to advance from automatic flight to fully autonomous flight, with related preliminary research already underway and increased R&D investment planned. Third, the company will explore "AI for Aviation," implementing intelligence in the aviation field and investigating the implementation path for AI-driven aircraft design across the entire process.
For the next three to five years, Dong Ming stated that on the product side, Volantech strives to complete the research, airworthiness certification, and market implementation of three types and three generations of aircraft, promoting the series of models globally and building a mature product matrix widely recognized by the market. On the operational front, assuming industry development meets expectations, the company targets 10 billion yuan in revenue by 2030-2031. For team building, Volantech will maintain an "elite troops" approach while aiming to provide sufficient returns to employees, helping them achieve annual salaries of one million yuan and accumulate ten million yuan in assets.
Dong Ming acknowledged that the entire low-altitude industry chain faces talent supply gaps across all segments. As the industry accelerates, talent shortages in various specialized positions have become routine. Specifically for aircraft development, Volantech judges that the industry's talent shortage situation will be difficult to significantly improve over the next three to five years.
To address the talent shortfall, Volantech's strategy focuses on improving team efficiency, using a relatively small and elite talent pool to achieve efficient research and development work. As of now, Volantech's total workforce is approximately 180 people, expanded from previous years. Personnel are centered on research and development, supplemented by a small number of production, equipment, and middle-office functional support staff.
Company Targets 5-10 Aircraft Deliveries Over Next Two Years
Dong Ming stated that Volantech has de-emphasized signing ordinary intention orders, with current focus shifted to implementing confirmed orders and advancing delivery implementation. The company plans to complete delivery of 5 to 10 aircraft over the next two years. Volantech plans to launch economic viability verification work from the second half of this year to the first half of next year, testing the product's profitability and commercial value to the entire industry chain.
Dong Ming stated that commercial passenger eVTOL is currently in an early incubation stage, with no mature mass-produced products yet available. The next 5 to 10 years will be the industry's early closed-loop formation period. "Comparing to the development history of automobiles and traditional civil aviation, new technologies require at least 20 to 30 years from implementation to large-scale commercial use. We strive to compress this to 10 to 15 years to complete the early cycle," he said.
Regarding industry development, Dong Ming assessed that the low-altitude economy encompasses diverse business formats, with unmanned cargo transport and short-distance logistics all possessing development potential. However, passenger-carrying commercial eVTOL will become one of the most core and largest-scale segments of the low-altitude economy.
Volantech Aviation announced in March that it expects to complete airworthiness certification in the first half of 2027.
FAQ
What technical milestone did Volantech Aviation achieve in late May?
Volantech Aviation completed China's first manned transition flight of its VE25-100 aircraft in late May at Zigong Lantian Airport in Sichuan Province. The test pilot successfully transitioned the aircraft from vertical takeoff mode to horizontal cruise mode and completed the reverse transition. This achievement places Volantech among only three companies globally to successfully complete this technical challenge, alongside Joby Aviation of the United States and Vertical Aerospace of the United Kingdom.
How much funding has Volantech Aviation raised and what is the timeline for its operations?
Volantech Aviation completed its C+ financing round with nearly 1 billion yuan raised, marking the second major funding round within one month. Since its establishment five years ago, the company has completed 13 market-based financing rounds, accumulating over 5 billion yuan in total fundraising. According to founder Dong Ming, current reserve funds can support the company's stable operations until 2028-2029, with no short-term capital shortage pressure.
When does Volantech Aviation plan to begin economic viability testing and complete deliveries?
Volantech Aviation plans to launch economic viability verification work from the second half of this year to the first half of next year to test the product's profitability and commercial value. The company plans to complete delivery of 5 to 10 aircraft over the next two years. Volantech announced in March that it expects to complete airworthiness certification in the first half of 2027.
