eVTOL developer Lilium could reportedly leave Germany

According to German media, the management of the company around Lilium CEO Klaus Roewe commissioned consultants in July to look for investors for a possible sale of the eVTOL company. A Lilium spokesperson declined to comment officially when asked by the German newspaper Handelsblatt.

Lilium had already reacted to the pending decision on German state aid in mid-May: “We expect due diligence to be swift as transparency is a daily routine for us as a listed company,” Roewe said at the time. “German government support is not only about creating a level playing field with the USA and China but also about Germany signalling to the financial markets that innovations and new technologies are supported in Germany.”

The German government and the state of Bavaria commissioned the state development bank KfW to conduct a due diligence review. It is still ongoing. Depending on the outcome, Lilium could receive state guarantees as collateral for a KfW loan, the amount of which has yet to be determined. According to earlier statements, Lilium hopes for a loan volume of at least 100 million euros.

According to Handelsblatt, the company had hoped for a “positive signal” before the summer break. Now, the patience of the Management Board is said to be gradually wearing thin: “On the one hand, the developers of the Lilium jet believe they are closer than ever before to the approval and market launch of their electric vertical take-off aircraft. On the other hand, there is growing concern that the money will run out on the ho,e stretch. That’s why we quickly need a solution,” the article states. There is rumoured interest in the company from China, the US and Saudi Arabia.

The company launched a small-series production of the electric flying taxi called Lilium Jet in 2023. With the commercialisation of the Lilium Jet planned for 2026, the company is preparing for large-scale production. According to information from the spring, Lilium has an order pipeline of more than 780 Lilium Jets, including firm orders and letters of intent from operators in the United States, South America, Europe, Asia and the Middle East.

In May, it was reported that Lilium was flirting with state aid from France. Lilium announced that it was in “advanced talks with the French government about plans to expand production capacity in France and possible state subsidies and loan guarantees.” However, in order to receive state aid, Lilium would have to set up a site in France, which the company says it is looking into. It is unclear whether Lilium is still pursuing this plan.

handelsblatt.com (in German)