PR93412

NEOM, Saudi Arabia, December 1, 2021 /PRNewswire=KYODO JBN/--

NEOM, the smart and sustainable regional development in northwest Saudi Arabia

and Volocopter, the pioneer of urban air mobility, have established a joint

venture (JV) company to design, implement, and operate the world's first

bespoke public vertical mobility system in NEOM. Air taxi and vertical

logistics services will be fully integrated with the overall multi-modal and

zero-emission public transit system in NEOM. The JV will be the sole operator

of initial public transit routes across NEOM, while enabling an open eVTOL

(electric Vertical Take-Off and Landing) ecosystem for vertical mobility

services including logistics, emergency response, and tourism. NEOM has placed

a confirmed order of 15 Volocopter aircraft to commence initial flight

operations within the next 2-3 years.

Nadhmi Al-Nasr, Chief Executive Officer at NEOM, said: "In designing cities and

urban infrastructure for the 21st century, mobility is at the center of the

equation. Through this joint venture with Volocopter, we are demonstrating to

the world that NEOM is the ideal region to implement urban air mobility rapidly

and create a fully integrated vertical mobility ecosystem. NEOM is on a mission

to become a global living lab for future mobility, and we are very excited to

see what the future holds as we grow."

The collaboration between NEOM and Volocopter will lead the design and

development of a truly three-dimensional public transportation system,

advancing the technical, regulatory, and infrastructure solutions for eVTOL

operations across NEOM. The JV will offer vertical mobility services as an

integral part of NEOM's multi-modal and zero-emissions public mobility system,

providing seamless connectivity for passengers and goods.

Florian Lennert, Head of Mobility at NEOM, said: "We are incredibly excited and

proud to partner with Volocopter to make vertical mobility a reality here at

NEOM. Volocopter is internationally recognized for leading innovation in the

eVTOL industry and is a perfect match for our ambitious goals to create the

first truly sustainable, shared, and seamlessly integrated mobility system in

the world. Volocopter's expertise, experience, and vision will allow us to lead

the design and implementation of eVTOL operations regionally and globally. I am

truly looking forward to jointly revolutionizing mobility."

Volocopter and NEOM have agreed an initial order of 10 VoloCity passenger and 5

VoloDrone logistics aircraft to support early activation of flight operations.

The JV will scale-up its activities from the beginning of 2022 to incubate

urban air mobility (UAM) in the region and seed a vertical mobility ecosystem.

The partnership delivers on NEOM's mission to be a global living lab for future

mobility and a center of excellence for eVTOL innovation and industry.

On this new partnership, Christian Bauer, Chief Commercial Officer at

Volocopter, stated: "The partnership with NEOM and the new JV we are creating

together is going to be an exciting journey. It is a once in a lifetime

opportunity to be an essential part of designing and operating a completely new

UAM ecosystem from the ground up without the constraint of legacy

infrastructure or regulation, and as pioneers in the industry, Volocopter is

honored to be the trusted partner to contribute to NEOM's ambitious vision."

eVTOLs are an essential part of NEOM's mobility mission, enabling

transportation of people and goods without extensive surface infrastructure.

Vertical mobility services will connect NEOM's core urban development THE LINE,

reimagined industrial city OXAGON and other regional destinations, avoiding

extensive road construction and thus protecting its unique natural environment.

NEOM is implementing the first truly sustainable and seamlessly connected

mobility system powered by 100% renewable energy, deploying zero-emission

vehicles across all urban and regional mobility modes. NEOM will shape the

future of mobility by closely integrating advanced smart infrastructure and

advanced transit systems with active, shared, and autonomous mobility solutions

to overcome the adverse legacy of the car-centric city. Working with a range of

innovation partners, NEOM has initiated shared electric mobility services,

autonomous shuttles, electric boats, personal eVTOLs, delivery drones, and

solar-powered mobility hubs.

About NEOM

NEOM is an accelerator of human progress and a vision of what a New Future

might look like. It is a region in northwest Saudi Arabia on the Red Sea being

built from the ground up as a living laboratory – a place where

entrepreneurship will chart the course for this New Future. It will be a

destination and a home for people who dream big and want to be part of building

a new model for exceptional livability, creating thriving businesses and

reinventing environmental conservation.

NEOM will be the home and workplace to more than a million residents from

around the world. It will include hyperconnected, cognitive towns and cities,

ports and enterprise zones, research centers, sports and entertainment venues,

and tourist destinations. As a hub for innovation, entrepreneurs, business

leaders and companies will come to research, incubate, and commercialize new

technologies and enterprises in groundbreaking ways. Residents of NEOM will

embody an international ethos and embrace a culture of exploration, risk-taking

and diversity – all supported by a progressive law compatible with

international norms and conducive to economic growth.

For further information email media@neom.com or visit www.neom.com and

www.neom.com/en-us/newsroom.

Find out more about NEOM Mobility at: www.neom.com/en-us/sectors/mobility.

About Volocopter

Volocopter brings urban air mobility (UAM) to megacities worldwide. We aim to

improve the quality of life for people in cities by offering a fantastic new

mode of transportation. For that we create sustainable and scalable

UAM-ecosystems with partners in infrastructure and operations.

Volocopter's family of eVTOL aircraft will offer passengers (VoloCity and

VoloConnect) and goods (VoloDrone) swift, secure, and emission-free connections

to their destinations, supported by VoloIQ, the UAM ecosystem's software

platform that serves as its digital backbone for safe and efficient operations.

As a pioneer in the UAM industry, Volocopter will launch commercial services

within the next few years. Founded in 2011, the company employs more than 500

people in Germany and Singapore, has completed over 1,000 successful public and

private test flights, and raised €322 million in equity from investors,

including Daimler, Geely, DB Schenker, BlackRock, and Intel Capital.

www.volocopter.com

Photo - https://mma.prnewswire.com/media/1700060/Volocopter.jpg

SOURCE: NEOM and Volocopter