Lilium Secures Investor Deal to Resume Electric Aircraft Development

The insolvent eVTOL startup expects operations to restart in January following an agreement with a new consortium.

Lilium, a German electric air taxi startup, has signed a deal with Mobile Uplift Corporation to acquire its subsidiaries' assets and resume operations.
The agreement, approved by creditors, is contingent on standard conditions and is set to close in early January 2025.
The company had filed for insolvency in October 2024 after running out of funds, halting its ambitious plans to deliver its first aircraft by 2026.
The deal will rehire Lilium's workforce, which had been laid off, and provide financial resources to continue development and certification efforts.
Lilium faces significant financial hurdles, requiring hundreds of millions of euros to complete production and meet its 700 pre-orders from global customers.