Zhejiang Geely Holding Group is planning to make urban air mobility part of people's life in China.

Its subsidiary Geely Technology Group said it is building a joint venture with German company Volocopter to produce its autonomous flying vehicles and offer the services.

They already filed applications for a business license, said a Geely Technology representative on Wednesday. Geely Holding Group became an investor of Volocopter in 2019.

"Geely's market leadership in China and forward-thinking approach to expanding mobility options make them a great strategic investor," says Florian Reuter, CEO Volocopter.

"They are an invaluable partner for bringing urban air mobility to China – one of the most promising markets for the UAM industry globally."

Volocopter's two-seater, the 2X, made its China debut at the Shanghai auto show that concluded on Wednesday.

It can fly at 100 kilometers per hour at up to 2,000 meters for 27 minutes, with a load of 160 kg.

Geely Technology said it will first introduce the two-seater model for production and operation.

Volocopter's future models include the fifth-generation aircraft, the VoloCity, which is currently in the certification process with the European Aviation Safety Agency.

It will have a speed of 110 km per hour and fly for 35 minutes.

Established in 2011, Volocopter has raised a total of 322 million euros ($388.62 million) in equity. Volocopter's investors include Daimler, Geely, DB Schenker, BlackRock, and Intel Capital.