Lilium, the Munich-based electric air taxi startup known for its Lilium Jet, has announced plans to restart operations with backing from a consortium of European and North American investors. This comes after the company entered insolvency and laid off 1,000 employees.
Lilium has signed an asset purchase agreement with Mobile Uplift Corporation GmbH, which will acquire two subsidiaries, Lilium GmbH and Lilium eAircraft GmbH, along with their operating assets. This funding is expected to enable Lilium’s subsidiaries to exit insolvency proceedings and resume operations, pending regulatory and creditor approvals.
Funds raised from the agreement will be allocated under German Insolvency Law, though no proceeds will go to the parent company, Lilium N.V..
Klaus Roewe, Lilium’s CEO, remarked:
“This agreement with a consortium of experienced investors marks a major breakthrough. We are optimistic about restarting our business in early 2025.”enhanced regional connectivity, setting a new standard for sustainable aviation at competitive prices.”
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Employee Rehiring and Next Steps
As part of the restructuring, remaining employee contracts were terminated on December 20, 2024. Mobile Uplift Corporation GmbH plans to rehire these employees following the completion of the transaction, expected in January 2025.
About Lilium and the Lilium Jet
Founded in 2015, the startup’s mission is to develop sustainable, high-speed regional transportation through its all-electric vertical take-off and landing (eVTOL) aircraft. The Lilium Jet is celebrated for its zero-emission operation, low noise, and high performance, positioning it as a leader in sustainable aviation.
The company has garnered global interest, with collaborations and sales spanning Europe, the US, China, Brazil, the UK, the UAE, and Saudi Arabia.
Looking Ahead
This new lifeline allows Lilium to focus on its core mission of advancing the decarbonization of air travel and redefining regional transportation with its innovative eVTOL solutions.
