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Shuttered electric air taxi startup Lilium may be saved after all
A consortium of investors has resurrected Lilium just days after the electric air taxi startup ceased operations and laid off about 1,000 employees.
Lilium had raised more than $1 billion from private investors before it went public in 2021 on the Nasdaq Exchange via a reverse merger with a blank-check company, SPAC Qell. But the company burned through cash faster than it could raise more from investors as it worked to develop a vertical take-off and landing (VTOL) aircraft with speeds of up to 100 km/h. Kirsten Korosec is a reporter and editor who has covered the future of transportation from EVs and autonomous vehicles to urban air mobility and in-car tech for more than a decade.
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