Lilium back in business thanks to new investor
German electric aircraft manufacturer Lilium, which went bankrupt last December, is back in business thanks to a new shareholder, Mobile Uplift Corporation.
On 24 December, German flying taxi manufacturer Lilium announced that it had signed an asset purchase agreement with Mobile Uplift Corporation, a company set up by a consortium of European and North American investors. The transaction is scheduled to close in early January 2025. It will cover the two subsidiaries of the electric aircraft developer, that had to cease operations shortly beforehand and were forced to lay off some 1,000 employees.
Thanks to the financing obtained, they should be able to emerge from their self-administration procedure, reintegrate the employees whose contracts had been broken and restart their commercial activity.
“We are very pleased to announce the signing of an investment agreement with a consortium of highly experienced investors,’ said Klaus Roewe, CEO of Lilium. The conclusion of the agreement at the beginning of January will enable us to restart our activities’, he promised.
Listed on the stock exchange since 2021, Lilium had received €1.5 billion ($1.54 billion) from its previous investors to develop its flying taxi, the marketing of which has been delayed. The company’s bankruptcy followed the German government’s refusal to inject additional capital for the construction of the electric aircraft.
Cover photo: Lilium
