Lilium Secures Investment from Mobile Uplift Corporation, Plans to Rehire 775 Workers

Dec 24, 2024, 10:00 AM

Lilium, a German electric aircraft startup, has secured a last-minute rescue from insolvency through an investment agreement with Mobile Uplift Corporation GmbH, a consortium of investors from Europe and North America. The deal involves the acquisition of the operating assets of Lilium's subsidiaries, Lilium GmbH and Lilium eAircraft GmbH. The agreement, which is expected to close in early January, will enable Lilium to restart its business operations. Previously, on December 20, 2024, Lilium had laid off approximately 1,000 employees due to financial difficulties. However, following the investment deal, the company plans to rehire 775 of these workers. The investment, facilitated by KPMG, is seen as a breakthrough for Lilium, which had been struggling to find funding after filing for insolvency in October. The company has already received 1.5 billion Euros in investments and has secured around 700 orders for its electric aircraft.