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German Flying Taxi Project Shuts Down, Leaving 1,000 Jobless

The German startup, Lilium, which was developing a flying taxi, has abruptly shut down its operations, resulting in the termination of approximately 1,000 jobs. The company, based in Oberpfaffenhofen, Germany, was working on an electric vertical take-off and landing (eVTOL) aircraft intended for urban air mobility. Despite having raised significant funds and receiving backing from investors like Tencent and Baillie Gifford, Lilium faced insurmountable financial challenges, leading to its closure. This news comes as a blow to the burgeoning sector of urban air mobility, which aims to revolutionize transportation with electric flying vehicles. The shutdown not only affects the employees but also raises questions about the viability and future of similar projects in the competitive and capital-intensive field of advanced air mobility.

Read the Full MSN Article at:
[ https://www.msn.com/en-gb/cars/news/german-flying-taxi-project-shuts-down-leaving-1-000-jobless/ar-AA1wE7Dw ]