Lilium再次申请破产 融资协议破裂

German eVTOL developer Lilium Aerospace has filed for insolvency for the second time after a planned investor rescue failed to materialize.

The company, which initially filed for insolvency in October 2024, had hoped to secure a €200 million (US$210 million) investment from a group of European and North American investors under the Mobile Uplift Corporation consortium. The funding, once described by Lilium as a “major breakthrough,” never arrived, forcing the company to file for insolvency again on Feb. 21.

“While talks about alternative solutions are still ongoing, the chance for restructuring right now is highly unlikely and therefore, operations will be stopped,” the company stated.

Meanwhile, Lilium employees have reportedly gone unpaid for several weeks, prompting the launch of a GoFundMe campaign earlier this month to assist workers struggling to cover basic living expenses.

Lilium’s financial woes reflect broader challenges within the eVTOL industry. Fellow German eVTOL developer Volocopter faced similar issues in 2024 when Baden-Württemberg and Bavaria declined to provide financial support for its development efforts.

Volocopter ultimately filed for insolvency in December but continues operations under provisional insolvency proceedings while working on a restructuring plan due by the end of February.

The lack of government support for eVTOL startups in Germany and Europe has raised concerns about the region’s ability to compete with the U.S. and China, where companies receive significant backing from governments and defense agencies.

“It’s a handicap for an eVTOL company not to have government support,” Sergio Cecutta, founder and partner of SMG Consulting, previously told Vertical. While some European governments offer technology grants, he noted that these contributions “pale in comparison” to the financial backing provided by the U.S. Department of Defense and various state incentives.

Lilium had been preparing for the first flight of its Lilium Jet in early 2025, and claimed to have an order pipeline of more than 780 aircraft from operators across the U.S., South America, Europe, Asia, and the Middle East. But with the latest insolvency filing, the future of the company and its eVTOL program remains uncertain.