Lilium saves itself in the last minute

Lilium, the German eVTOL (electric Vertical Take-Off and Landing) aircraft manufacturer, has secured a last-minute investment to continue its operations. 

Founded in 2005, Lilium had been facing significant financial challenges, leading to the termination of nearly all its 1,000 employees last week. 

On December 24, 2024, Lilium announced the signing of an investment agreement with Mobile Uplift Corporation, a consortium of European and North American investors.

The transaction is expected to close in January 2025, pending creditor committee approval.

Lilium's CEO, Klaus Roewe, expressed optimism, stating that the investment would enable the company to restart its business operations.

The funds from the sale will be utilized in accordance with German insolvency law, with no proceeds going to the parent company. 

This development offers a lifeline to Lilium, allowing it to continue its pursuit of revolutionizing urban air mobility with its innovative eVTOL technology.

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