Flying Taxi Takeoffs Accelerating
Germany's Lilium Flying Taxis Is Going Public
Source: Lilium New 7-Seater
Startup IPO Expected Valuation on Nasdaq at $3.3 Billion
Germany's flying taxi startup Lilium just announced that it's going public on the Nasdaq in a deal that values Lilium at $3.3 billion. The deal is expected to close this quarter. It will enable Lilium to start commercial operations of its 7 seat passenger flying taxis, flown by pilots, in 2024. The money will be used to finish the certification process, start production and start commercial operations. As part of the announcement, Lilium unveiled an image of its larger - 7 seat - flying taxi for fast, aerial, intercity commutes. Previous models have had only 5 passenger seats.
Munich-based Lilium is doing an IPO merger with special purchase acquisition company (SPAC) Qell Acquisition Corporation. San-Francisco based Qell is led by the former President of General Motors North America Barry Engle. Qell specializes in next generation and sustainable mobility and transportation The Lilium vehicle is an e-VTOL or electric vertical takeoff and landing flying taxi. Vertical and forward flight are enabled by 36 duct fans mounted on the serrated wings of the aircraft. The vehicle has a range of about 160 miles on a charge and can reach speeds up to 175 mph at 10,000 feet. It's part of the new aerial future of personal mobility.