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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

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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 shutting down and has filed for insolvency after a crucial 210 million euro investor deal failed to materialize.
The company previously ran out of cash in October, sought a rejected loan guarantee from the German parliament, and its employees reportedly worked unpaid.
Despite having a unique eVTOL jet concept, 780 pre-orders, and being the first to receive both FAA and EASA certification bases, Lilium could not secure timely funding.
Lilium's shutdown reflects a challenging trend in the electric aviation sector, with other companies like Volocopter facing similar financial issues and Airbus pausing eVTOL 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.