Just days after announcing plans to cease operations, electric aircraft manufacturer Lilium has found a buyer in Mobile Uplift Corporation GmbH—a coalition of European and North American investors.
The German electric vertical takeoff and landing (eVTOL) company announced the news on Tuesday, noting that the deal is expected to enable its two subsidiaries to secure the funding needed to resume operations and hire back the nearly 1,000 employees it let go.
“We are very pleased to announce the signing of an investment agreement with a very experienced consortium of investors, which is a major breakthrough,” said Lilium CEO Klaus Roewe. “Deal closing at the beginning of January will allow us to restart our business.”
Lilium did not give any details on the price or the investors behind the corporation. According to the manufacturer, certain conditions must be met before the contract is finalized.
