Three months after announcing its partnership with one of the world's leading business aviation companies, Luxaviation, Munich-based start-up Lilium has gone public on the Nasdaq through a Spac with Qell. The deal values the young company at more than $2.4 billion.
If the indicators suggested by financial specialists are anything to go by, Daniel Wiegand’s team will be able to get into the thick of things and prepare the launch of its futuristic seven-seater vertical take-off and landing jet.
“In 2015 with the clear vision that the decarbonisation of aviation is inevitable, we set out to build a team and product that would radically transform the way the world moves. Six years and five generations of technology demonstrator aircraft later, we’re closer than ever to this goal. Today’s milestone will bring us even closer to launching our service in 2024 and making sustainable, high-speed regional air travel a reality to communities around the world,” said Wiegand, who founded the company with Sebastian Born, Matthias Meiner and Patrick Nathen.
Lilium's 700+ strong team includes approximately 400 aerospace engineers and a management team responsible for delivering some of the most successful aircraft in aviation history. The Spac's success is probably due in part to the presence of GM alumnus Barry Engle among its promoters.
The jet of the future will also be quieter. (Photo: Lilium)
Former Airbus boss Tom Enders has become chairman of the board and will be joined by Daniel Wiegand, Barry Engle, Gabrielle Toledano, Henri Courpron, David Wallerstein, Niklas Zennström, David Neeleman and Margaret M. Smyth.
Lilium has already announced plans to launch networks in Germany through partnerships with Munich, Nuremberg, Düsseldorf and Cologne-Bonn airports.
This story was first published in French on . It has been translated and edited for Delano.