Lilium eVTOL hopes dashed

In December, MUC had indicated it would inject 200 million euros (about $208 million) into the company, the lion’s share, $157 million, expected from a Slovak investor and cofounder of battery manufacturer InoBat, Marian Bocek. Other investors included battery developer and manufacturer CustomCells, and venture capital investor Earlybird. “We are very pleased to announce the signing of an investment agreement with a very experienced consortium of investors, which is a major breakthrough." Lilium CEO Klaus Roewe said on the company’s website.

Lilium aspired to use its “air taxis” for high-speed regional air mobility and also as transport for medical emergencies. It secured tax incentives in 2020 to build a “vertiport” in the vicinity of Orlando International Airport in Florida. A fresh influx of funding for the cash-strapped startup would have given Lilium the chance to assemble its first prototypes and work on the first flight of the Lilium Jet. However, despite several assurances to the contrary, Bocek’s money never materialized. According to German aviation magazine aerokurier, the company said in a statement that “while we’re still in talks about alternative solutions, the chance for restructuring is unlikely at this time, and operations have ceased.”