Previously, air taxi startup Lilium was facing administration and had to let go of most of its employees on December 20. However, on December 24, a Christmas miracle occurred when investors came in with a €200 million (US$206 million) lifeline.
The air taxi and eVTOL market are moving quickly, reminiscent of the dotcom bubble era when new companies had short lifespans. Lilium, known for its ducted fan electric jets, had spent €1.5 billion ($1.5 billion) on developing prototypes and was planning flight testing this year with deliveries starting in 2026.
Unfortunately, the company faced financial struggles and by late December, it was on the brink of liquidation. However, a new investor group named Mobile Uplift Corporation stepped in on Christmas Eve, providing the necessary funds to revive the company and rehire its employees.
The refinancing is in progress with Fifth Wall, an unnamed European financial investor, battery producer CustomCells, and Lilium’s creditors and shareholders involved. The hope is to secure the necessary approvals and restructure the company for a fresh start.
Lilium CEO Klaus Roewe expressed optimism about the investment agreement, stating that it will allow them to restart their business in January. The future holds possibilities for Lilium, from building air taxis to exploring broader applications in the aviation industry.
Source: Lilium
