Lilium Files for Insolvency Amid Funding Shortfall

The German eVTOL startup cites lack of state-backed financial support as it seeks self-administration in insolvency proceedings.

Lilium, a pioneer in electric vertical takeoff and landing (eVTOL) aircraft, has announced insolvency filings for its key subsidiaries in Germany due to financial struggles.
The company failed to secure a €50 million loan guarantee from the German federal government, which was essential for its next funding round.
Despite having raised over €1.5 billion from investors, Lilium's ambitious plans for commercial delivery by 2026 have been stalled by financial constraints.
Lilium's insolvency follows a broader trend in the eVTOL sector, where competitors like Joby Aviation and Archer have secured significant investments and regulatory milestones.
The startup aims to restructure under German insolvency law, hoping to attract new investors and continue operations with oversight from a court-appointed administrator.