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A syndicate of investor has resurrected Lilium just day after the electric air taxi startupceased operationsand lay off about 1,000 employees .
Mobile Uplift Corporation , a fellowship congeal up by investors from Europe and North America , has agreed to develop the operating assets of the startup ’s two foot soldier , Lilium GmbH and Lilium eAircraft GmbH , per an announcementTuesday .
The parent company , Lilium N.V. , will not receive any fund in accordance with German insolvency constabulary .
Terms of the deal , which are expected to close in January , were not give away . Consultancy heavyweight KPMG handled the sale process for Lilium . Mobile Uplift Corporation saidin the announcementit intends to rehire workers who were laid off at once after opening of the proceedings and shutting of the dealings . It is n’t light if all 1,000 workers will be rehired .
When reached for gossip by TechCrunch , Lilium voice Christine Pierk did not bring home the bacon any newfangled information or respond TechCrunch ’s inquiry about the good deal .
Once the mickle closes , the new owners plan to restructure Lilium , allow the party to give-up the ghost insolvency with its tech intact and without debt .
“ We are very pleased to announce the signing of an investment agreement with a very experienced syndicate of investors , which is a major breakthrough , ” Lilium CEO Klaus Roewe was quote in the announcement . “ muckle shut at the source of January will allow us to restart our line of work . ”
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Lilium had raise more than $ 1 billion from secret investors before it go public in 2021 on the Nasdaq Exchange via a reverse merger with a vacuous - check company , SPAC Qell .
Lilium had succeeder landing customers , including an order from Saudi Arabia for 100 electric planes . But the party burned through cash faster than it could raise more from investor as it worked to develop a vertical take - off and land ( VTOL ) aircraft with speed of up to 100 km / h.
Liliumfiled for insolvency — the U.S. combining weight of bankruptcy — in October , after give out to secure hand brake support .
