Electric aircraft manufacturer
Lilium on the verge of extinction? Time to find investors is running out
The air taxi pioneer Lilium is about to go out of business. A co-founder writes that the activity has already ended. The deadline for finding investors has almost passed.
The air is getting thinner and thinner for the insolvent Bavarian e-flight pioneer Lilium, based in Gauting near Munich. According to media reports, a deadline expires on Monday within which the search for investors could still be successful. A company spokesman announced a public statement from Lilium on Monday.
“Business Insider” and “Welt”, among others, had reported that the company had already ceased business operations on Friday and handed over notices to almost all of its approximately 1,000 employees. Patrick Nathen, one of four Lilium co-founders, wrote on the LinkedIn platform: “After ten years and ten months, the sad truth is that Lilium has ended its activity.”
Lilium wanted to build electric aircraft
Lilium wanted to build small aircraft with electric propulsion and had already developed prototypes for a vertical take-off flying taxi. However, the developers repeatedly encountered technical challenges. The company, which was meanwhile listed on the US technology exchange Nasdaq, had repeatedly reported losses worth millions over the years.
Recently there was a political dispute over a state guarantee. In Bavaria, Prime Minister Markus Söder (CSU) prevailed against his Economics Minister Hubert Aiwanger (Free Voters) and brought about a cabinet decision in favor of a 50 million guarantee from the Free State – on the condition that the federal government contributes the same amount obligated. However, the federal participation that was initially promised was then withdrawn.
dpa
Source: Stern
