It has been confirmed by electric vehicle takeoff and landing (eVTOL) aircraft developer Lilium that two of its principal subsidiaries will file for insolvency and apply for self-administration proceedings in Germany. 

The announcement came on October 24, 2024, in a SEC filing in which the parent company Lilium N.V. spelled out the dire situation for its units Lilium GmbH and Lilium eAircraft GmbH.  

Lilium declared that fundraising efforts had failed after the German government refused to approve a loan from state-owned development bank KfW for €100 million ($108 million). 

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