Lilium, once a darling in the nascent industry of electric aircraft that raised more than $1 billion before going public, has ceased operations and laid off about 1,000 workers after efforts to gain financing and exit insolvency failed.
Update: Lilium might be saved after all. The company said in a Dec. 24 announcement that a consortium of investors has agreed to acquire two Lilium subsidiaries, which would allow it to restructure and exit insolvency.
The publication Gründerszene was the first to report the layoffs. Lilium co-founder Patrick Nathen confirmed on LinkedIn that the 10-year-old company had stopped operating.
“After 10 years and 10 months, it is a sad fact that Lilium has ceased operations. The company that…
