By Andrew J. Hawkins
Germany’s Lilium will be the latest electric aviation startup to go public via a reverse merger with a special acquisition company, or SPAC. Lilium will merge with Qell Acquisition, a SPAC founded by former General Motors executive Barry Engle. The newly formed company will list on Nasdaq under the ticker symbol “LILM.”
As part of the announcement, Lilium unveiled a new, seven-seat electric aircraft that it says will launch as part of an inter-city flying taxi service in 2025. Previously, the company’s prototype was said to have only five seats — so we can assume that Lilium’s ambitions to ferry more passengers are growing along with its financial expectations.
It’s the latest deal involving an electric vertical takeoff and landing...
March 30, 2021 at 06:38PM
via The Verge - All Posts
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