
$830M IPO To Fund Lilium's Seven-seat eVTOL
The all-electric vertical-takeoff-and-landing aircraft is due to enter commercial service in 2024.
Lilium recently announced that an $830 million IPO merger with Qell Acquisition Corp. will fund the development of its seven-seat eVTOL aircraft. The German company confirmed that the series-production Lilium Jet due to enter commercial service in 2024 will have two more seats than the current five-seat technology demonstrator.
Lilium confirmed in 2018 that it had filed concurrent type certification applications with the European Union Aviation Safety Agency and the Federal Aviation Administration for the larger all-electric aircraft, which will carry a pilot and up to six passengers. The Lilium Jet is projected to have a range of more than 155 miles and a cruise speed of 175 mph at 10,000 feet. This performance is slightly less than the 186 miles/186 mph targets for the five-seat technology demonstrator, reflecting tradeoffs being made to secure the additional payload.
A longer version of this story is available at FutureFlight.aero, a news and information resource developed by BJT parent company AIN to provide objective, independent coverage and analysis of cutting-edge aviation technology, including electric aircraft developments and advanced air mobility.