There are a lot of fools, not only the Germans. German industry (especially Rheinmetall and KNDS) currently has record orders from Norway, the Czech Republic, Italy and Germany itself for the tanks.
“FRANKFURT. The Bavarian start-up Lilium once spent 1.5 billion euros on the development of an electrically powered aircraft. The creditors of the now-insolvent company will receive only 18 million euros for the approximately 300 patents developed during that time. For this price, the American competitor Archer Aviation acquired, among other things, the aircraft designs, concepts for battery management and electric motors, and, above all, the ducted fan technology of Lilium's electric vertical take-off and landing (eVTOL) aircraft. Archer intends to use the technology in its own aircraft.
This puts an end to all speculation that the Lilium eVTOL aircraft could still be completed and brought to series production under a new investor. The prototypes were never fully completed, and a manned maiden flight never took place. Nevertheless, the two other bidders in the ongoing insolvency proceedings stated that they wanted to bring the Lilium jet to certification readiness. These included the equally American competitor Joby Aviation and the previously rather unknown German-Dutch investor group Ambitious Air Mobility Group (AAMG). The latter had made several very assertive public statements in recent weeks. The electric eVTOL aircraft was to be further developed into an autonomous aircraft, AAMG CEO Robert Kamp and his management colleague Daniel Hayes told the "Handelsblatt" newspaper in August. How realistic such ambitious plans would have been is difficult to assess: A large number of Lilium engineers have since found new employers, and the old company premises in Oberpfaffenhofen have been re-rented. The complexity of the business is also illustrated by the example of the Baden-Württemberg-based air taxi developer Volocopter, which, after financial difficulties, was sold to a Chinese-controlled company.
AAMG also repeatedly sharply criticized Lilium's insolvency administrator Ivo-Meinert Willrodt from the law firm Pluta. Regarding the awarding of the contract to Archer, AAMG is "deeply disappointed," the company announced. Although the asset manager had confirmed in writing that the assets would go to the highest bidder, this is now "clearly not the case." AAMG says it had offered to pay 30 million for all the assets. A spokesperson for the insolvency administrator, however, stated that a proper bidding process had been organized in coordination with both creditors' committees. "In the bidding process, it was very important for us to ensure the highest level of transaction and implementation security, as well as financing security." Apparently, AAMG was unable to provide proof of financing until the very end.
This is another chapter in the dramatic downfall of the self-proclaimed pioneer in electric flight. Lilium was founded in 2015 by engineers from the Technical University of Munich, quickly attracted prominent investors such as Frank Thelen and Skype co-founder Niklas Zennström, and was repeatedly visited by high-ranking politicians. Among investors, there were and still are voices that emphasize that Lilium's technology was visionary. However, there were also recurring problems and broken promises: When the company went public in New York in 2021 via a SPAC merger, Lilium claimed it could build 90 aircraft within three years and generate $250 million in revenue – this never materialized.
Instead, the company ran out of money. Some critical observers say that Lilium's management ran the startup too much like a large aircraft manufacturer: They optimized only for time, but burned through a lot of money in the process – when problems arose, tens of millions of dollars were simply requested again. This eventually scared off investors.
Afterward, several rescue attempts failed: First, a hoped-for guarantee from the German government did not materialize. The company then filed for insolvency in October 2024. In December, there seemed to be a Christmas miracle for Lilium: An investor consortium announced its entry and promised a cash injection of 200 million euros were pledged. However, the money from the Slovakian main investor, Marian Bocek, never arrived in Bavaria, so Lilium filed for bankruptcy again in February.
Now that the intellectual property has been sold, the insolvency administrator plans to sell the two prototypes and some machinery. After that, Lilium will be history for good.” [1]
Like all Germany. It will be Khanate there.
1. Von Lilium bleiben nur noch die Patente: US-Konkurrent Archer kauft Designs und Konzepte für das elektrische Fliegen. Frankfurter Allgemeine Zeitung; Frankfurt. 17 Oct 2025: 24.
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