Embattled eVTOL developer Lilium has agreed a deal with a group of investors that could see it restart work on its Jet eVTOL aircraft later this month.
An agreement with a consortium called Mobile Uplift Corporation was signed on December 24, 2024 and is expected to be closed and approved early this month. Mobile Uplift will acquire all of Lilium’s assets in Germany.
According to Aviation Week, Mobile Uplift is led by private equity companies from Europe and the USA and includes some early investors in the company.
Lilium CEO Klaus Roewe said, “We are very pleased to announce the signing of an investment agreement with a very experienced consortium of investors, which is a major breakthrough. The deal closing at the beginning of January will allow us to restart our business.”
Accountants KPMG are still in discussions with potential investors who have indicated interest in Lilium’s assets and / or business.
Once the deal is closed, the German business will be restructured and exit administration proceedings. According to Lilium’s statement, Mobile Uplift intends to rehire employees whose contracts were terminated on December 20, 2024.
Lilium employed more than 1,000 people and was working towards the first flight tests of a full-scale version of its Jet eVTOL aircraft before it ran out of funding. The company had planned to construct six test aircraft to progress through to EASA certification and an entry-into-service during 2026.
The closing of the deal is subject to the satisfaction of certain customary conditions precedent, including the consent of a creditors committee.
