A consortium of European and North American investors has revived electric air taxi startup Lilium, just days after it ceased operations and laid off 1,000 employees. Mobile Uplift Corporation will acquire Lilium’s operating assets for an undisclosed deal, which is expected to close in January.
The new owners plan to rehire some of the laid-off workers once the deal is finalized. Lilium CEO Klaus Roewe expressed optimism, stating that the investment agreement with the consortium allows the company to restart its business without debt and retain its technology.
Lilium had secured significant funding before going public in 2021 but struggled to develop a vertical take-off and landing (VTOL) aircraft. The company filed for insolvency in October after failing to secure emergency funding, citing cash burn issues. Despite this setback, Lilium had previously landed an order from Saudi Arabia for 100 electric planes.
Source: https://techcrunch.com/2024/12/24/shuttered-electric-air-taxi-startup-lilium-may-be-saved-after-all