Munich-based Lilium, the electric air taxi startup that recently ceased operations and laid off 1,000 employees, is set to restructure with new investor backing.
A consortium of European and North American investors have agreed to acquire two of Lilium's subsidiaries, enabling the company to restructure and potentially re-enter the eVTOL market.
The asset purchase agreement with Mobile Uplift Corporation GmbH will provide the necessary funding to restart operations, pending certain conditions.
The deal is expected to close in early January 2025, including proceeding approvals and creditor committee consent.