Latest News
-
Amazon suspends its operations with 21 Air following the Miami cargo plane crash
Amazon announced on Sunday that it was suspending operations with Miami's 21 Air, the cargo airline that operated the Amazon branded plane that crashed in Miami and killed?five people. Amazon spokesperson Kelly Nantel stated in a statement to customers that "after the tragic 'incident' last weekend, we have spent time supporting and reviewing the investigation, and we've made the decision to pause operations with 21 Air as the operator of Flight. We'll continue to work with everyone involved in the investigation. Last week, an Amazon Prime Air cargo plane crashed after it overran the runway at Miami International Airport. Prime Air Flight 7598 reportedly overran the diagonal runway of the airport shortly before 2 pm?EDT (1800 GMT) and hit multiple vehicles on the surface, according to officials. Flightradar24's flight tracking service said that the plane was a 32-year-old Boeing 767-3000 freighter, which had been used as a passenger jet by various airlines between 1994 and 2015. According to the National Transportation Safety Board (NTSB), which is investigating this crash, the pilots of an Amazon Prime?Air cargo aircraft considered abandoning the landing once the plane touched down. This was based on evidence found in a flight recorder. The 'NTSB' also reported that one pilot warned that they were "flying too fast" just over a minute prior to touching down on runway they overran. As the investigation continues, we remain committed to'supporting families and loved ones impacted by the accident. We also continue to work closely with NTSB, and our partners, such as Amazon. 21 Air stated that they were confident in their safety policies, training and procedures.
-
Indonesian rescuers are still searching for 129 missing people after a passenger ship capsized.
An official said on Monday that more than 600 Indonesian rescuers are searching for 129 people still missing, after a passenger vessel capsized in the Java Sea at the weekend. The death toll remains the same, at six. Rescue agency reported that the Virgo transport 8 ship, which was carrying 243 passengers, went missing early Sunday morning due to bad weather. The authorities have rescued 108 passengers from the ship that was traveling from Surabaya, East Java, to Banjarmasin, South Kalimantan. We have been searching for the missing ever since early morning. "We are deploying around 12 ships and 622 personnel," I Putu?Sudayana told reporters. As of Monday, the six-person death toll had not increased. A large ship painted red and black lies partially submerged, capsized, in rough blue water. The red underside of the ship is visible. In rough waters, two small boats carrying people were seen floating close to the capsized vessel. Edy Prakoso said that the ship leaning heavily to the starboard side was caused by strong waves hitting the starboard'side. Transport Minister Dudy Purwagandhi stated that the cause of the capsize is still under investigation. Indonesia uses ferries to travel between its 17,000 islands. Sea travel is more affordable and accessible than flying, but there have been many accidents. Two ferries, each carrying hundreds of passengers, caught fire in the water last month. Five people were killed when a boat caught fire near Madura Island, and one person was killed in an accident on a ferry leaving Bali.
-
The oil markets have survived the Iran War sprint. Bousso: Now the marathon.
The expansion of the Mideast conflict to Yemen and the drone attacks on a Saudi oil pipeline are a painful reminder that the Iran War is not a temporary energy shock but rather a long-term, unpredictable test of economic endurance. The markets are now adjusting to a new, more volatile phase in the conflict. Many of the safeguards which cushioned the initial blow seven months ago, have vanished. Last week, Donald Trump, the president of the United States, predicted that the conflict will end only when the midterm elections in the U.S. are held on November 3. Midterm elections are scheduled for November 3. The tone has changed dramatically from the initial suggestion by the administration that war would only last a few weeks and not even months. It is impossible to tell if this new forecast will prove correct, but recent events at two of the most important energy routes in the world suggest that it could be very optimistic. The Gate of Tears Houthis, who are allied with Iran in Yemen, have made rapid progress over the last week. They now hold the Bab el-Mandeb Strait near the southern entrance of the Red Sea. The group, which announced a blockade on the shipping route last July, has stated that all ships except those owned by Saudi Arabia are safe to transit. Saudi authorities reported that a series of attacks by drones launched from Iraq temporarily closed Saudi Arabia's East-West oil pipe, the kingdom's primary alternative to the Strait of Hormuz. Since the Strait of Hormuz was disrupted by the conflict in February, the 1,200-kilometre (745 mile) pipeline has become critical to the kingdom. Saudi Arabia offset some of its losses by increasing west coast oil exports to between 4 and 5 million barrels a day (bpd) during the first five month of the conflict. This is equivalent to about 4% to 5% global oil supply. Kpler?data reports that shipments in August fell to 2 million bpd, the lowest level since January. This was largely due to the Houthi Blockade. The International Energy Agency (IEA) reports that the output of what was once the largest oil exporter in the world fell to 6,000,000 bpd, the lowest in over 30 years, in August. Satellite images suggest that at least one pumping stations was damaged, but the extent of damage and timeline for repairs are still unclear. Saudi Arabia can also draw from stored crude oil to compensate for any disruption in pipeline flow. This could take several days. This escalation is occurring at a very dangerous time. Running Dry The disruption of Middle East oil exports, which made up around a fifth (or more) of the global supply before the war, has dramatically eroded world stocks. According to the IEA, inventories have dropped by 507,000,000 barrels or roughly 2.8million bpd since the war began. The fact that more crude oil has left Hormuz recently than in the beginning of the war is largely due to more vessels using the route along Oman’s coast, under U.S. Navy surveillance. Kpler estimates that around 5 million barrels per day (bpd) of crude oil and refinery products have been shipped through the Strait since June. This is a quarter less than pre-war levels. However, the actual figure could be higher, as many ships turn off their navigational systems while transiting. Last week, Iranian attacks on more than a dozen oil tankers trying to transit the Gulf or cross Hormuz were a reminder of how dangerous transits can be. This status quo cannot continue. Middle East is the largest energy producing region in the entire world. It may be possible to reduce crude oil exports from the Gulf for a couple of months, but not forever. According to IEA estimations, refineries like diesel, jet fuel, and gasoline have suffered far more than crude oil, with exports remaining 60% below their pre-war level. Diesel in particular has been severely affected, with prices reaching record highs. Saudi Arabian Red Sea exports are also under pressure, which would increase global inventory levels. The latest flare-up may also lead to a reduction in the ship traffic through Hormuz. The fear of entering conflict zones is still a factor for tanker operators. Insurance and freight costs are at an all-time high, and naval escorts only mitigate the risks to a certain extent. Different tones How long can these market dynamics last? Iran's leadership sees the conflict as an existential threat and is therefore motivated to exert maximum economic pressure both on the U.S. economy and on the global economy before any negotiations. Washington's "increasingly strict" blockade on Iranian oil exports has caused severe economic damage to the Islamic Republic, increasing the cost of continuing the conflict indefinitely. Temporarily, the Houthi attacks and advances on Saudi infrastructure could temporarily shift momentum back to Tehran. These competing pressures may eventually bring both parties to the table for negotiations. They could also encourage both sides to continue fighting, hoping that their bargaining positions will be strengthened by economic or military gains. Markets assumed that Trump would find a way out of the gridlock once rising gas prices and political costs became too painful. This outcome was dependent on Tehran's?willingness to cooperate. It has so far shown little willingness to do so. U.S. policymakers, traders and investors may have adapted to a conflict which appears manageable. If the war continues for several more months as Trump has suggested, there is a risk that the market will be left with fewer shock-absorbing devices. You like this column? Check out Open Interest, your new essential source for global financial commentary. Follow ROI on LinkedIn and X. Listen to the Morning Bid podcast daily on Apple, Spotify or the app. Subscribe to the Morning Bid podcast and hear journalists discussing the latest news in finance and markets seven days a weeks.
-
Trump will review requests to release additional 9/11 records
On 'Sunday, U.S. president Donald Trump said that he would consider the request of relatives of those who died in the 9/11 attacks for more information about the attack and whether the perpetrators were linked to Saudi Arabia. He told reporters before boarding the plane to return to the U.S. that he would "look at it" when he returned. Families of 9/11 victims have been calling for the declassification of other?records relating to?the events. New York legislators from both parties have asked the Trump administration to release some phone records. This is one of our best chances to get this information out," U.S. Rep. Nicole Malliotakis told ABC News in a recent interview. "I think that hopefully, we'll be seeing this level of transparency from the current administration." New York City Mayor Zohran Mamdani released to the public 170,000 pages of documents related to air quality, health concerns, and the city's response to recent attacks.
-
Trump says US can stay in Iran to keep oil like Venezuela deal
Donald Trump suggested on Sunday that the United States might "keep" oil in Iran, drawing a parallel with the U.S. effort to seize a fifth Venezuela's vast reserves of oil. He said that on a trip to Ireland to attend meetings and watch golf he still "expected" the Iran War to end this coming year. This could be just before the midterm elections in the United States due in November. Trump said that gasoline prices would drop "like a rock" when the Iran War ended. Oil traders expect prices to increase again on Monday following an attack on Saudi oil pipeline. Trump stated that he will only do the "right deal", and not one that is "no good". He also said that Iran "constantly" calls for peace talks, a claim that Tehran has rejected in the past. The president did introduce another option, however: "stay engaged with Iran." He made a comparison with the August deal announced by the United States in Venezuela. Trump added that "we'll eventually get out" of Iran unless we decide to stay in the country and keep the oil, like Venezuela. The revenue from Venezuela "paid for the war many times."
-
Saudi shares drop after drone attacks target key oil pipeline
Saudi Arabian stocks fell in the early trading on Sunday as a result of 'the market's reaction to drone attacks' on the Kingdom's East-West crude oil pipeline. Saudi Arabia's benchmark index fell?1.0%. This was due to a 0.8% decline in Al Rajhi Bank, and a 2.4% drop in Saudi Arabian Mining Company. Saudi Aramco, the oil giant, fell 1.1%. Rabigh Refining and Petrochemical Company plummeted 7.3% and was the worst performer of this session. The sale 'followed an emergency shutdown of the East West pipeline on Thursday after aerial strikes 'hit installations in the Riyadh region and Medina, causing multiple injuries. Riyadh as well as?Baghdad both traced the attack back to Iraqi territory where Iran-backed militias are active, leading the Iraqi Government to dismiss a senior military leader on Saturday. Saudi Arabia did not immediately retaliate militarily after an appeal from Iraq's Prime Minister, but Riyadh defended its right to protect its sovereignty and vital infrastructure. The U.S. president Donald Trump blamed Iran on Saturday for the attacks on the conduit. This is the primary alternative that the Kingdom uses to avoid the Strait of Hormuz. According to the International Energy Agency, previous attacks on Saudi energy facilities had reduced crude production by 2.3 million barrels per day to a low of 6 millions bpd for three decades. Qatar's benchmark Index, which is a measure of the petrochemical industry, rose 0.2%, bucking the regional trend. The Financial Times reported that Gulf foreign ministers will meet with their Iranian counterparts in an effort to reach an interim agreement on traffic management through the Strait of Hormuz.
-
Authorities say it could take several months to identify the victims of the Philippine ferry fire.
On Sunday, authorities in the Philippines warned that it may take several weeks or months to identify victims of a ferry fire in which 76 people died. As forensic experts collect and compare DNA samples taken from the charred remains, investigators are determining what caused the worst maritime disaster in recent history in the Philippines. Richard Allan Mangalip, a forensic expert with the Philippine National Police said that some remains were clustered in certain areas of the vessel. Others were spread out across the ship. The vessel was carrying over 130 people, and it was nearing its destination at the time of the fire. The ferry headed southwest from Manila, to Coron in the province of Palawan, a journey that usually takes around 20 hours. Mangalip, at a recent press conference, said that "most of them are already charred." He added that authorities could not give a timeline for identification due to the large number of specimens which must be examined. It could take a few weeks or even longer. This assessment was made a day after the rescuers found 41 more remains on the ferry. The death toll now stands at 76, and 13 people are still missing. Officials stated that more remains may still be discovered because investigators haven't yet thoroughly searched the flooded sections of vessel. On Friday, firefighters entered the ferry after putting out the blaze a day and a half after it started. The Coast Guard released images showing the extent of the damage inside the ship, including rows of bed frames that were twisted and covered with ash by intense heat. Investigators have not yet determined where the fire began and are still working to gain access to key areas of the vessel including the flooded lower decks, the engine room and other sections where evidence may help determine the cause. According to a statement by the Maritime Industry Authority based on survivor 'accounts', two explosions could be heard within the vessel just before the fire started. A representative from shipowner Atienza inter-Island ferry said at the same press conference that the 'company is cooperating fully with the investigators and will continue to assist affected families. The fire is just the latest in a series of maritime accidents that have killed people in the Philippines. This archipelago has more than 7,600 island, and millions of people rely on small boats and ferries to travel.
-
The PM's Office says that one person has died and more than 30 people are missing after a Vanuatu Ferry sinks.
In a statement, the office of Prime Minister Jotham napat said that at least one person had been confirmed dead on Sunday and that more than 30 others were still missing after a boat sank off Vanuatu. The statement on Facebook stated that search and rescue operations are continuing in the Pacific Island Nation located approximately 1,750 km (1.090 miles east of Australia) after the MV Matui, with its crew and passengers, went down. It added that 15 of them were alive. RNZ, the New Zealand public broadcaster, reported that search efforts had begun since Friday's inter-island boat sank due to bad weather between the islands of Ambae & Santo. The Napat office stated that the search in open waters was being lowered, while efforts were shifted?towards a search of?the south east coast where currents could have carried survivors. The statement stated that "this loss appears to have been caused by strong winds, failure to heed marine warnings and possible negligence such as overloading the vessel." We pray for the?strength of those who survived and their recovery. Please know that we are with the families of the missing and the ones who have died in this time. Matai Seremaiah is the representative for the Luganville region in Vanuatu’s parliament. He said that rescue efforts began after a crew member of the MV Matui swam to shore and raised the alarm. Seremaiah told RNZ that he alerted them to the fact that the ship had capsized. They went on a search. Vanuatu 'police, Vanuatu Maritime Safety Authority, and the ferry operator, Tui Shipping Agency did not respond immediately to requests for comments.
How Volkswagen's flying car dream crashed in China
Volkswagen, China's leading automaker for years, looked beyond the streets it dominated in 2019, and set out to take a piece of space.
VW had a vision of a battery powered airborne vehicle. The 82-year old manufacturer needed Chinese technology and design to make it a reality.
The German automaker wanted to work quickly with a startup team in Beijing in order to create a?flying car, a challenge that Porsche and Audi had failed to meet. VW was to deliver what they called a "luxury, futuristic drone" that could transport four rich passengers in style. It was intended to sell them vehicles that could fly between cities such as Beijing and Tianjin with a noise level half that of a helicopter. (Read the full story at?.com)
In a video for 2022 posted on the Volkswagen website, VW project leader Zhou Jin stated that this segment has a strong potential to be a major market segment.
Volkswagen is still grounded, even though local startups are preparing to launch flying cars in China. Volkswagen's flying car effort could not match China's low altitude economy. This is the aviation industry's term to describe an emerging market that includes drones, air-taxis and other aviation service aimed at airspace under 1,000 meters. Local rivals, government and supply chains have moved more quickly in China than VW. VW is a legacy company with a culture that values deliberation and compliance. VW's stumbling is another example of how older automakers are losing business rapidly to Chinese competitors.
The project's failure also highlights the shifting legal risks that foreign companies face in China. VW faced a 5-year legal battle with a Chinese partner who claimed that VW had violated trade secrets when developing flying cars. Western companies have accused Chinese firms for years of stealing their technology. There is also a criminal investigation into?Zhou, the Chinese manager who VW promoted as its face of innovation.
Emerson Xu is the CEO of NexAvian, and former China director of air-taxi manufacturer Volocopter. He said that Volkswagen's experience shows just how "brutally select" China's mobile industry has become. "If you are not Chinese enough, or faster, or both, then you will not stand a shot."
Volkswagen's spokesperson stated that the automaker would not comment publicly on its development of flying cars or the case brought against Zhou, its employee. The spokesperson stated that "we are convinced the allegations brought against us have no substance."
Zhou said, "I can't understand why I was left to deal with a criminal matter I was innocently involved in by simply carrying out my job duties." I have repeatedly asked the company to intervene and resolve the commercial dispute fully.
Volkswagen's battle to bring a flying vehicle to market, and how the company ended up killing the project in 2024, has never been reported before.
This report includes hundreds of pages from Volkswagen documents relating to its plans for flying cars, including planning papers, legal documents, and corporate communications. The reporters also interviewed five individuals with knowledge about the project and reviewed disclosures made by former VW partners regarding flying-car development. VW is still partnering with Chinese companies, such as automaker Xpeng to help with electric cars and Horizon Robotics for autonomous driving. The company has made such agreements because it has been losing sales and market share in the largest auto market to Chinese brands. VW's sales in China peaked in 2019 at 4.2m but dropped to 2.7m last year. This has pushed the automaker down to third position behind rivals BYD & Geely. VW's profits have been hammered by these struggles, as well as mounting pressure from its German manufacturing network and U.S. Tariff costs. In recent weeks, the company announced plans to cut vehicle models and up to 100,000 positions as it scrambled to stabilize its business.
Early, then overtaken
Volkswagen joined the rush of automakers to adopt electric vertical takeoff-and-landing (eVTOL). The term "flying cars" is often used by automakers to describe the new sector, alongside eVTOL.
The idea was simple. Electric flying cars would reduce travel times in crowded cities, and car manufacturers could reinvent themselves to investors as "mobility companies". Toyota, for instance, invested in Joby Aviation, an air taxi startup in New York that has recently tested air cabs. Porsche Consulting, a VW management-consulting arm, promoted an industry it estimated could be worth $32 billion by 2035. VW's Porsche brand partnered with U.S. aerospace giant Boeing, while Audi's sister brand teamed up with Europe's Airbus to develop flying cars. Both ventures failed to produce a product that was commercially viable, so Volkswagen executives turned their attention to China, the auto market in which they dominated at the time.
The market for flying cars was relatively open when VW started its China project in 2019. The race was tightening dramatically by the time the project closed in 2024. China's government made the "low altitude economy" a strategic national priority in those five years. This attracted a flood of local competitors.
According to CCID Consulting (a Chinese think tank affiliated with the Chinese government), at least seven Chinese firms are expected to provide eVTOL cars by the year 2026. Guangdong Province opened China's first flying car testing center in March.
Xpeng is a key partner in VW's China turnaround plan for the EV market. It has begun to deliver its own flying vehicle: a futuristic, extended-range EV or "mothership", built to launch a drone with two passengers from its cargo bay. In recent years, the eVTOL industry has seen many failures, as startups in Europe and America have filed for bankruptcy before launching a vehicle into commercial operation. The flying car concept has not been a sustainable business.
'ESTABLISHED LIFESTYLE ENJOYERS"
Volkswagen's original goal was to build a V.MO full-scale model in two years. VW's planning materials target wealthy Chinese individuals who are looking for exclusivity and status. Marketing and product plans indicate that the cabin would have to be big enough to accommodate four passengers with their luggage and include screens for entertainment.
The team consisted of fewer than ten members, led by Zhou (the 39-year old director of Volkswagen Beijing's innovation center). VW promoted the team in press releases and videos as a "young Chinese expert" who had "started at scratch." VW concluded that it needed a Chinese partnership because its local market "was ahead of European R&D," Zhou stated in a promotional film.
VW was unable to find a partner who could offer technical capabilities without the political risk associated with government ties, which one internal presentation warned would "trigger scrutiny beyond China."
Volkswagen considered working with EHang based in Guangzhou, China's only eVTOL startup that has listed shares. VW concluded that the company had a gap to close in order to meet VW standards for automotive engineering, according to an internal assessment from August 2020. EHang did not respond to a comment request.
Sichuan Tengden, a Chinese manufacturer of military drones, also resigned from consideration. The company cited "capacity constraints" that an internal VW memo linked to the “China-U.S. Arms Race." Tengden did not respond to a comment request.
VW's legal department also highlighted another risk associated with working with the firm: its role as a supplier of military equipment. Tengden is founded by a former employee of Aviation Industry Corporation of China, a state-run defence contractor that has been targeted by U.S. restrictions on trade because of its role developing killer drones. AVIC is the manufacturer of China's J-20 Stealth Fighter, as well as other major weapons.
Records reviewed by us show that VW instead approved a contract for AVIC General Huanan Aircraft Industry Company, AVIC GA, to provide consulting services on its flying vehicle. When the arrangement was signed in 2021, AVIC faced U.S. Export restrictions but wasn't a completely blocked entity.
AVIC did not respond to any questions regarding its involvement.
STAR WARS VIRTUALITY, "UNCONTROLABLE" RISKS
VW chose Pantuo Aviation - a Shanghai-based startup that had been operating for two years - to carry out a feasibility report on a flying luxury car that would bear the VW badge. Pantuo Aviation was owned by Zhang Qiong. Zhang Qiong is a Chinese entrepreneur with a successful business in supplying aviation fuel to private planes.
Two people have said that the design of the startup - an elegant craft with rotating wings – impressed Volkswagen managers. Pantala was a sleek craft that looked more like an aircraft than a Star Wars vessel.
Zhang Pantuo thought VW's team was full of imagination, but had no plan concrete for the future. She said, "At first they had absolutely nothing." They had never done it before.
Zhang said that VW approached the project with a traditional auto mindset. Zhang felt that while Pantuo viewed itself as developing an innovative, complex aircraft that required tolerance for uncertainty and step-by-step design, the automaker approached the project as a simple assembly project.
She said, "They appeared to think that it should be similar to assembling a vehicle - all the pieces are there and you can just put them together." VW has not commented on Zhang's story.
A person involved in the project said that VW had returned to Pantuo at one point to inform them that its focus group found potential V.MO drivers were uncomfortable with boarding or disembarking near to the rotating blades of their vehicle. The person involved said that the automaker asked for a redesign of the rotors to protect them 60 days prior to the project deadline.
VW and AVIC GA evaluated Pantuo’s design, finding it to be "uncontrollable." VW's project status document from September 2021 states that the concept did not show "convincing viability" because of poor aerodynamic performance, which left the projected range far below the target. The technical teams warned that the vehicle could not be made lighter enough.
In the same report, Pantuo's collaboration was called a "mistake." The VW team was blamed for not having "in-house experience in aviation" and Pantuo's "too ambitious design" had a "limited budget and development period."
VW decided that the project would need to be re-drawn.
VW's presentation stated that the automaker had offered to cancel the contract worth $590,000. This would cost about $414,000. Pantuo, however, refused to accept the offer. Pantuo argued that Volkswagen shared incorrect concept details with AVIC GA in a subsequent arbitration.
The arbitrator found in favor of VW and ordered Pantuo, Inc. to pay damages and costs totaling more than $120,000. VW's legal department hailed the ruling in an email as "an outstanding outcome". The arbitration commission did not respond to our request for a comment.
The matter was not over. According to Zhang and other witnesses, Shanghai Police opened an investigation in late 2015 into a criminal case that Pantuo filed against VW 2021, for alleged violation of trade secrets.
The automaker's internal correspondence from December 2023, reviewed by reveals that it regarded the criminal complaint against Pantuo as "baseless". It also viewed the tactic as a way to exert pressure on Pantuo for a favorable settlement in civil litigation.
The dispute escalated in September 2025, when Pantuo filed a $30 million lawsuit in a Guangdong court against VW and AVIC GA for intellectual-property theft. Pantuo alleged that Volkswagen, by sharing its designs and research with AVIC, had transferred the startup's intellectual property to an entity they considered an established rival.
AVIC did not respond to any questions regarding Pantuo's lawsuit against its unit. Shanghai police and Guangdong Court did not respond to requests for comments.
China's Supreme People's Court dismissed Pantuo's suit against Volkswagen in June, saying that the claim should have resolved through arbitration. The ruling allowed the suit to continue against AVIC GA and left the possibility open that Pantuo might return to the arbitrator to present its VW claim.
Zhang, now based out of Singapore, said she would be evaluating her legal options.
The shoe on the other foot
Some market observers say that VW's dispute against Pantuo is indicative of a wider shift in the way Western companies operate in China.
Since decades, foreign firms entering the Chinese marketplace have been worried that local partners will copy technology and pass it on to other domestic players.
Chinese firms are more likely to defend novel technologies developed by them, especially in areas where the government has set national priorities like the low altitude economy.
Mark Cohen, a former senior IP attache with the U.S. Embassy in Beijing, said: "The shoe is on the opposite foot." China will become more litigious as it acquires more desirable technology.
Businesses and law firms report that Chinese prosecutors are becoming more aggressive when it comes to pursuing cases of intellectual property, particularly in areas identified as national priority. The national agency overseeing prosecutions announced in February that it would be stepping up enforcement of IP theft claims due to "intensifying risks of technology leakage".
Chinese courts accepted 11,066 intellectual-property cases involving foreign parties in 2025, up 34% from 2024, according to a report by the Supreme People's Court. These figures do not indicate how many cases involved Chinese plaintiffs. The court reported in April that the number of foreign-related cases handled by the Intellectual Property Court of China grew at a rate of 19% per year between 2019 and 2025. This equates to 2,546 cases or one-tenth the total.
China's State council?Information office referred 'questions about flying-car developments and IP legal questions to the National Development and Reform Commission (the country's leading economic planner). The National Development and Reform Commission did not respond.
'FLYING TIGER'
VW partnered with Hunan, a manufacturer of drones, light aircraft, and flying cars, in 2022. The partnership developed the first full-scale model, dubbed "Flying Tiger" after the Chinese zodiac year.
The Flying Tiger's basic configuration was eight rotors to lift the aircraft and two for forward flight.
VW and Sunward developed two full-scale prototypes on the basis of that?model. The "Sky Garden" model, which featured a luxurious, spacious cabin, was the showcase for this project. The mock-up was occupied by the Chinese Premier Li Qiang in March 2023. This served as a sign of approval for the project, which aligned with China's increasing ambitions within the sector. Sunward did not respond to any questions regarding its involvement.
The model was sent to Volkswagen's Wolfsburg headquarters for a review of the project by Arno Antlitz, CFO, and CEO Oliver Blume. Antlitz encouraged the team to move forward, citing a need to learn from made-in China efforts.
The people reported that a third prototype was tested in Inner Mongolia at remote sites where engineers lived in and converted shipping containers.
VW will launch its new car in October 2023. Wanfeng Auto Holding Group, which already has a well-established aviation division, is helping VW prepare. Wanfeng is a Chinese car wheel manufacturer that acquired Austrian aerospace company Diamond Aircraft.
Volkswagen's top management committee for group operations held a meeting in March 2024 to discuss the possibility of bringing the flying cars to market. The legal, compliance, financial and strategy teams expressed concerns. One risk was the long time to profitability. Competitiveness was another risk. VW's strategy paper warned that "established Chinese players have already captured the momentum in China," naming rival automakers such as Xpeng, and Geely.
Ralf Brandstaetter, VW's China director, was the one who made the final decision.
Brandstaetter decided that VW had to concentrate on its core business, at a moment when passenger car sales were declining. Two people said that he killed the project by telling the team in June 2024 that it had been disbanded. According to documents, he broke the news in a WeChat Message to Wanfeng. The Chinese partner.
Brandstaetter did not respond to any questions regarding the decision to abandon the flying car, which was later confirmed by the board at VW China.
Wanfeng did not respond to the request for comment either. In a regulatory filing from November 2024, one of its units stated that the joint venture agreement with VW was over.
The COPS Investigate
After the failure of Volkswagen's flying car project, Zhou's legal troubles continued.
Documents in the case show that when the criminal investigation into an alleged violation of trade secrets began in December 2023 the police identified Zhou as the suspect - and not VW. Shanghai prosecutors began investigating the case in 2024.
Zhang, Pantuo, claimed that she filed her criminal complaint not against Zhou but VW.
Zhou was subjected to travel restrictions while the investigation proceeded. This is according to records from police that were seen by. She called it "shocking" and "heartbreaking" that Volkswagen treated the case against Zhou as an individual matter. Top executives told her this just a month ago.
The criminal investigation was not addressed in the Supreme People's Court's decision of June on the civil case. Shanghai prosecutors did not respond to an inquiry about the case of Zhou.
During the ongoing dispute over the flying cars, Wanfeng - the company VW once selected to bring its vehicle to the market - swooped into the fray to rescue German aerospace startup Volocopter from bankruptcy. Reporting by Ju-min Park in Beijing and Kevin Krolicki, Zhang Yan in Shanghai, and Claire Fu from Singapore. Kevin Krolicki, David Dolan and Kevin Krolicki wrote the article. (Editing by Brian Thevenot, David Crawshaw and David Thevenot.)
(source: Reuters)