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Lilium, a pioneering company developing flying taxis capable of vertical takeoff and landing (VTOL), has ceased all operations after laying off approximately 1,000 employees. The shocking announcement comes amidst financial struggles, which ultimately led to the inability to secure additional funding necessary to continue advancing its innovative technology.
According to reports from German media outlet Gründerszene, Lilium’s co-founder Patrick Nathen took to LinkedIn to announce the company’s decision to discontinue all activities. Nathen emphasized that he and his fellow co-founders could no longer pursue their shared vision of greener aviation under the Lilium umbrella.
Lilium had made significant strides in its research and development over the years, achieving notable milestones such as completing its first phase of flight tests in 2019. Notably, the company demonstrated the capability to fly at speeds exceeding 100 kilometers per hour, although its original prototype, unveiled in 2019, was intended to reach speeds of 300 km/h and travel up to 300 kilometers.
Despite financial challenges, Lilium’s CEO had reportedly remained optimistic about securing sufficient funding as recently as last month. Unfortunately, these efforts ultimately proved unsuccessful.
As a result of the layoffs, only a small number of employees will remain on board to assist with the liquidation process. The company has not yet disclosed plans for its intellectual property or other assets, but patent attorney Fabien Müller has taken charge of managing the transition of Lilium’s proprietary technology.
The sudden and significant downsizing is likely to have far-reaching implications in the industry, leaving many to wonder what the future holds for Lilium’s innovative flying taxi concept.
Source: http://www.engadget.com
