Just days after facing liquidation, German eVTOL startup Lilium Aviation has announced a lifeline investment deal that could revive its operations.
On Christmas Eve, the company revealed that the Mobile Uplift Corporation, a consortium of European and North American investors, signed a purchase agreement for Lilium’s subsidiary assets.
The agreement, set to close in early January 2025, ensures that 750 employees, who were laid off just before Christmas, will be reinstated. Lilium CEO Klaus Roewe described the development as a “major breakthrough,” expressing optimism about the company’s ability to restart operations promptly once the deal is finalized.
Founded in 2015, Lilium gained prominence as a promising developer of electric vertical take-off and landing (eVTOL) flying taxis, with plans to launch its first flight in early 2025.
Despite raising approximately €1.5 billion in funding, the startup faced mounting financial challenges, culminating in an insolvency filing after German federal and state governments declined to provide financial support.
The last-minute deal averts immediate liquidation, allowing Lilium to pay its employees beyond December and reignite its vision for eVTOL development. The announcement marks a critical turning point for the company, securing its future in the competitive electric aviation industry.
