Lilium burned €1B on a flying taxi that never got certified — then went bankrupt twice

Lilium was founded in Munich around 2015 to build an electric vertical take-off and landing aircraft — the Lilium Jet, a six-passenger eVTOL powered by 36 electric ducted fans, designed for urban air taxi routes at 300 km/h. Over its lifetime it raised approximately €1 billion from investors including Tencent, Atomico and the Saudi-backed NEOM fund.

The physics did not cooperate. The ducted-fan design was inefficient in hover, creating a range-payload-weight trade-off the company could not resolve. The battery energy density the aircraft needed kept receding into the future. Lilium projected mass-market air mobility by 2024, but aerospace certification takes far longer than startup timelines allow. The company never received EASA or FAA type certification and never produced a certified aircraft.

In October 2024 Lilium filed for insolvency after German government loan guarantees failed to materialise. A successor company filed again in February 2025. The intellectual property was sold to a holding company for a fraction of the capital invested; Archer Aviation later acquired some of the technology. A billion euros bought a lesson about the gap between a demo flight and a type certificate.