German electric vertical take-off and landing (eVTOL) developer Lilium Aerospace has filed for insolvency again after funding promised by an investor did not materialise on time.
The company had laid off nearly all of its 1,000 employees in December 2024, before it signed an asset purchase agreement with Mobile Uplift Corporation on December 24, 2024, with the company intending to acquire the operating assets of Lilium's subsidiaries, Lilium and Lilium eAircraft.
However, the Christmas miracle did not come to fruition, with the company filing for insolvency for the second time on February 20, 2025. The company had first filed for insolvency in October last year after the German government blocked a €50 million loan guarantee.
Lilium staff have posted that they are now looking for work in wake of the insolvency. It comes after a GoFundMe was set up by Lilium staff to support “struggling” employees.
“Since the insolvency of Lilium and Lilium eAircraft… the investors under the new company name Lilium Aerospace were not able to transfer the required funds to the new company to enable salary payments to their employees,” the funding page read.
The news follows German eVTOL developer Volocopter filing for insolvency at the end of December 2024, signalling trying times for the eVTOL dream.