Volocopter, the German electric air taxi company backed by Mercedes, has filed for bankruptcy protection as it seeks new investors. Despite this setback, CEO Dirk Hoke emphasized the company's technological advancements, claiming they remain ahead of competitors. This decision follows a turbulent period for the company and comes shortly after Lilium, another German eVTOL startup, faced similar challenges but secured funding quickly. Volocopter has raised hundreds of millions over the years, aiming to continue operations during its restructuring phase.