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Electric Jet Developer Lilium Shuts Down

Funds that would have kept the company afloat ‘have not materialized in time’ despite a previous ‘breakthrough’ in its search for an investor.

Friday, February 21, 2025 at 03:30 PM ET

Verified

The developer of the electric vertical takeoff and landing (eVTOL) Lilium Jet is closing its business. [Courtesy: Lilium]

Key Takeaways:

German eVTOL developer Lilium is ceasing operations and has filed for insolvency after failing to secure critical funding.
Despite announcing a "breakthrough" in investor search and an agreed-upon 210 million euro investment from Mobile Uplift Corporation, the deal ultimately did not materialize in time.
Lilium faced severe financial distress, with employees reportedly working without pay, despite having 780 orders and achieving dual FAA/EASA certification bases for its 7-passenger Lilium Jet.
The company's collapse highlights broader financial challenges in the eVTOL industry, with other developers like Volocopter, Airbus, and Eviation also facing funding issues or pausing development.

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Lilium, a German developer of electric vertical takeoff and landing (eVTOL) jets, is shutting down.

Lilium’s two core subsidiaries ran out of cash in October, forcing it to file for “self-administration” proceedings with a court in Germany. In December, the firm achieved what it called a “breakthrough” in its search for a new investor. But on Friday it announced it filed for insolvency.

Jack Daleo

Jack is a staff writer covering advanced air mobility, including everything from drones to unmanned aircraft systems to space travel—and a whole lot more. He spent close to two years reporting on drone delivery for FreightWaves, covering the biggest news and developments in the space and connecting with industry executives and experts. Jack is also a basketball aficionado, a frequent traveler and a lover of all things logistics.