Ambitious Air Mobility Group (AAMG) has publicly declared its intention to acquire Lilium, the Bavarian electric vertical take-off and landing (eVTOL) startup currently in insolvency proceedings, with a proposed purchase price of around €20 million. This valuation contrasts sharply with Lilium’s previous multi-billion euro worth, reflecting the challenges facing the company amid a stalled product and uncertain asset status.
AAMG’s announcement last Friday, an uncommon step before reaching any formal agreement, was made without a corresponding statement from Lilium or its insolvency administrators. The buyer’s chief executive, Robert Kamp, described Lilium as “the result of years of effort by some of the most talented engineers in the world,” yet details on whether Lilium’s side is receptive to the acquisition remain unclear.
See also: Dutch Investment Group Seeks to Acquire Lilium Assets and Resume Aircraft Development
German publication Wirtschaftswoche reported that no purchase contract has been signed, no funds have been transferred, and the insolvency administrators have yet to approve the proposed takeover. Sources indicated that the buyer would encounter a complicated situation, with expired property leases, unclear ownership of equipment, and missing agreements for machinery often obtained through barter arrangements.
According to Wirtschaftswoche, “the buyer will find chaos above all else,” with significant operational hurdles ahead. Although the patents could be transferred, AAMG’s acquisition of facilities and equipment is uncertain, and it is not known if former Lilium engineers would return to restart development. AAMG’s letter of intent estimates startup costs at around €250 million, while also stating that it has access to an additional €500 million for investment.
See also: German Battery Manufacturer CustomCells Files for Insolvency After Lilium’s Financial Troubles
Further details on AAMG have emerged, identifying it as a joint venture between Luxembourg-based private aircraft operator LuxAviation, its subsidiary Sigma Air Mobility focused on sustainable mobility, and the Amsterdam-headquartered Ambitious Group recruitment consultancy. The group also collaborates with Japanese company AirMobility to explore opportunities in the Asia-Pacific region. AAMG is registered at a Dutch address in Boxtel, with contact points in Dubai and Marbella.
The acquisition, if completed, would require extensive effort to revive Lilium’s technology and operations, posing a significant challenge for the new owners in the evolving air mobility sector.
