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Lilium , once a darling in the nascent manufacture of electric aircraft that rear more than $ 1 billion before going public , has quit operations and laid off about 1,000 workers after efforts to attain funding and exit insolvency miscarry .
Update : Lilium might be saved after all . The company said in a Dec. 24 proclamation that a pool of investors has agreed to assume two Lilium subsidiaries , which would permit it to restructure and exit insolvency .
The publishing Gründerszene was the first toreport the layoffs . Lilium co - founder Patrick Nathenconfirmed on LinkedInthat the 10 - year - former ship’s company had stopped operating .
“ After 10 years and 10 months , it is a sad fact that Lilium has lay off operations . The party that Daniel , Sebastian , Matthias and I founded can no longer pursue our shared belief in more environmentally favorable aviation . This is heartrending and the timing feel painfully ironic , ” publish Nathen .
The layoffs spread over the bulk of the company ’s hands and come a few days after about 200 worker were permit go , according to a regulatory filingon December 16 .
A spokesperson from Lilium responded to an email seeking comment , but did n’t bring home the bacon any information . “ The company will communicate once we can say something , ” the email read .
Lilium , which was developing vertical take - off and landing ( VTOL ) aircraft with speed of up to 100 kilometre / h , has struggle for months . The startup ’s visual sense for electrical aircraft attracted backers like Tencent and locked in client , including an order for 100 electric jets from Saudi Arabia . In 2021 , the companionship went public on the Nasdaq Exchange via a reverse merger with a vacuous - check company , SPAC Qell .
And while the company had made some procession , including powering up its first full - scale prototype , it was still years away from delivering its merchandise .
In October , Lilium said it wouldfile for insolvency — the U.S. equivalent of failure — after failing to arouse parking brake money from the German government . Under insolvency , Lilium lost control of its subsidiary , which include Lilium eAircraft . KPMG was manage the cut-rate sale process .
