Back
Nawal
Down , Not Out • 2m
🔔 Shuttered electric air taxi startup Lilium may be saved after all Lilium, the electric air taxi startup that recently ceased operations and laid off about 1,000 employees, may have a chance for revival. A consortium of investors, Mobile Uplift Corporation, has agreed to acquire Lilium’s operating assets, including its subsidiaries, although the parent company will not receive any funds due to German insolvency law. The deal is expected to close in January, and Mobile Uplift plans to rehire some laid-off workers. Lilium's CEO expressed optimism about the investment agreement, which aims to restructure the company and allow it to exit insolvency without debt. Despite previously raising over $1 billion and securing orders for electric planes, Lilium struggled financially and filed for insolvency in October after failing to secure emergency funding.
Replies (4)
More like this
Recommendations from Medial
Download the medial app to read full posts, comements and news.