Lilium, a promising startup that produces air taxis, is now on the brink of bankruptcy
Lilium has been in negotiations with both the German federal government and the state of Bavaria for an emergency capital infusion. The company had requested €50 million (approximately $54 million) in loans from the federal government, but its request was denied by German lawmakers.
In a regulatory filing last week, Lilium stated that they had received information indicating that the parliamentary budget committee would not approve a guarantee for a proposed €100 million loan.
This loan was to be issued by KfW, a German state-owned development bank. Despite this setback, Lilium continues to negotiate with Bavaria for a guarantee of at least €50 million.
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