Electric Aircraft Startup Lilium Ceases Operations, 1,000 Workers Laid Off

Lilium, once a darling in the nascent industry of electric aircraft that raised more than $1 billion before going public, has ceased operations and laid off about 1,000 workers after efforts to gain financing and exit insolvency failed. From a report: Lilium co-founder and CEO Patrick Nathen confirmed on LinkedIn that the 10-year-old company had stopped operating. "After 10 years and 10 months, it is a sad fact that Lilium has ceased operations. The company that Daniel, Sebastian, Matthias and I founded can no longer pursue our shared belief in more environmentally friendly aviation. This is heartbreaking and the timing feels painfully ironic," wrote Nathen. The layoffs cover the bulk of the company's workforce and come a few days after about 200 workers were let go, according to a regulatory filing on December 16.

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