Finance, Taxes, Insurance
KPMG Starts M&A Process to Find New Backers For Lilium's eVTOL Aircraft
Company says it is still building Lilium Jet prototypes and plans to start test flights
Lilium structures testing on eVTOL aircraft
Lilium engineers have conducted structural tests on a Lilium Jet airframe as part of preparations to flight test the six-passenger eVTOL aircraft.

Lilium has appointed accountancy group KPMG to start a mergers and acquisitions process it hopes will avoid bankruptcy and keep its plans alive to bring its six-passenger eVTOL aircraft to market. The company announced the move on November 5 after a court in Weilheim approved insolvency administration filings and appointed a custodian and “chief insolvency officers.”

According to Lilium, KPMG is about to start briefings with prospective new investors. The company urgently needs to raise new funds after the German parliament recently blocked loan guarantees needed to support work on the Lilium Jet.