German company Lilium manufactures electric passenger flying drones.
Lilium
German aerospace startup Lilium faces bankruptcy if it does not raise emergency funds from the state government for the southeastern state of Bavaria.
The bankruptcy would mark a dramatic decline for a startup once considered Europe’s best chance to build the 21st century equivalent of “cars” that can fly.
Lilium is one of a series of firms trying to build “eVTOL,” or electric vertical takeoff and landing, vehicles.
Popularly known as flying cars or air taxis, these vehicles are being developed by start-up companies in the United States, Europe and Asia.
Today, however, Lilium is in trouble. The company is desperately trying to raise taxpayer funds in Germany. And so far, it has been unsuccessful.