Electric aircraft startup Lilium has ceased operations after failing to secure emergency funding from the German government. The company, which had raised over $1 billion in investments and went public on the Nasdaq Exchange, was developing VTOL aircraft with speeds of up to 100 km/h. Despite previous successes, including a high-profile order for 100 electric jets from Saudi Arabia, Lilium struggled to raise additional capital due to setbacks, including a prototype bursting into flames during maintenance. The company will file for insolvency under German law.

Source: https://techcrunch.com/2024/10/24/lilium-shuts-down-electric-aircraft-germany-startup/