When everything seemed to be heading towards insolvency, the German startup Lilium announced on December 24 an agreement to sell its two subsidiaries (Lilium GmbH and Lilium eAircraft Gmbh) to Mobile Uplift Corporation GmbH, created by a consortium of European and US investors.
The company that develops urban air mobility solutions, including eVTOL aircraft, had laid off most of its employees on December 20, and the deadline to find a buyer signaled the end of the project.
With no financial resources to continue developing its electric aircraft, Lilium had filed for bankruptcy for its two subsidiaries and put its business up for sale by KPMG, which was looking for an interested party.
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The consultancy will now seek an agreement with Lilium’s creditors to close the sale and restart commercial operations in January. The company’s new owner is expected to rehire employees laid off last week.
“We are very pleased to announce the signing of an investment agreement with a very experienced consortium of investors, which is a major breakthrough,” Lilium CEO Klaus Roewe said. “Deal closing at the beginning of January will allow us to restart our business.”
The German company’s first product is the eVTOL Lilium Jet, an aircraft with pivoting wings and small fans in lines above them, a very original concept compared to other competitors.
Lilium hopes to make its maiden flight in 2025 and certify it in 2026, despite its financial problems.
