Shuttered Electric Air Taxi Startup Lilium May Be Saved After All

A consortium of investors has resurrected Lilium just days after the electric air taxi startup ceased operations and laid off about 1,000 employees. From a report: Mobile Uplift Corporation, a company set up by investors from Europe and North America, has agreed to acquire the operating assets of the startup's two subsidiaries, Lilium GmbH and Lilium eAircraft GmbH, per an announcement Tuesday.

The parent company, Lilium N.V, will not receive any funds in accordance with German insolvency law. Terms of the deal, which are expected to close in January, were not disclosed. Consultancy giant KPMG handled the sale process for Lilium. Mobile Uplift Corporation said in the announcement it intends to rehire workers who were laid off immediately after opening of the proceedings and closing of the transaction. It isn't clear if all 1,000 workers will be rehired.

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