German eVTOL startup Lilium has ceased operations, halting its decade-long effort to deliver electric air taxis despite a significant investment of over $1 billion. Co-founder Dr. Patrick Nathen announced the news on LinkedIn, stating that nearly 1,000 employees had been laid off with only a small number remaining to manage the liquidation process.
Lilium’s struggles began in October when it ran out of money and failed to secure a $54-million government injection. The company attempted to secure new investors and a supervisory custodian but was unable to overcome its financial woes. Orders from UrbanLink and Saudi Arabia’s flag carrier, which were accepted earlier this year, will now go unfulfilled.
Dr. Nathen remains optimistic about the future of Lilium, stating “we’ll be back” in his LinkedIn post.
Source: https://newatlas.com/transport/lilium-ceases-operations-before-delivering-electric-air-taxi-evtol