In our second “falling to earth” headline metaphor of the day, Lilium NV will be shuttering its two subsidiaries after it failed to raise the 100mm in loans it needed to stay afloat. Layoffs of 1,000 are inbound as well. The hail mary that Lilium hoped for was the involvement of the German government, but with that window now closed, any hopes of raising the loans are now closed.
Tech Crunch - Kirsten Korosec Electric aircraft startup Lilium has run out of money
Tipranks - Steve Anderson Lilium (NASDAQ:LILM) Stock Plunges 58% on Insolvency News
