“Rumours Suggest eVTOL Company Lilium has Several Potential Buyers”

Ger­man news web­site, electrive.com, wrote this week, “There are appar­ent­ly sev­er­al poten­tial buy­ers for Lil­i­um. It could be decid­ed this week who wins the bid.”

This is sup­port­ed by a report in the Ger­man busi­ness mag­a­zine, Wirtschaftswoche (WiWO), who con­firms that Lil­i­um has received var­i­ous offers from investors. “Nego­ti­a­tions are now under­way with sev­er­al bid­ders. The aim is to reach an agree­ment with a buy­er before the end of this week,” writes WiWo.

It remains unclear who these prospec­tive buy­ers are and how high the offers are. electrive.com con­tin­ues, “Lil­i­um shares are cur­rent­ly worth only a few cents on the Stock Mar­ket, mean­ing a pur­chase price could prob­a­bly be in the region of one hun­dred mil­lion euros.” Adding, “The alleged pur­chase offer from Chi­nese car man­u­fac­tur­er Geely for Lilium’s com­peti­tor, Volo­copter, is also said to be in this range.”

The ques­tion now being: What will the new pur­chas­er do with Lil­i­um? What is the company’s for­ward strat­e­gy? Will Lil­i­um sim­ply con­tin­ue to oper­ate as before and keep its Ger­man loca­tion? 

Cost-wise, Lil­i­um is already embark­ing on a severe cost-cut­ting pro­gram, even with­out a new own­er. Around one in five employ­ees are to be made redun­dant. That means around 200 of the 1,000 employ­ees will lose their jobs.

Lil­i­um Staff

Mean­while, Lil­i­um is doing every­thing it can to main­tain busi­ness oper­a­tions. A few days ago, it signed a pur­chase agree­ment with eVTOL oper­a­tor, The Ambi­tious Group (AAMG), for the acqui­si­tion of eight Lil­i­um jets, with an option to acquire six more. AAMG intends to offer elec­tric char­ter flights, ini­tial­ly in south­ern Spain, Moroc­co and the Benelux coun­tries, and lat­er in the Caribbean. 

As a result, Lilium’s order pipeline has grown to a total of 108 firm orders and reser­va­tions, plus 82 options and Let­ters of Intent for 600 elec­tric air­craft. Where­as, the ASL Group has can­celled reser­va­tion for six Lil­i­um jets due to the fil­ing for insol­ven­cy. How­ev­er, the two par­ties intend to work togeth­er again, once Lilium’s finan­cial reor­gan­i­sa­tion has been suc­cess­ful­ly com­plet­ed.

(News Source: https://www.electrive.com)

(Top image: Lil­i­um Jet at Farn­bor­ough Air­show in July)

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