Lillium Updates - A 7-Seater electric vertical take-off and landing (eVTOL) aircraft revealed & Merger with 'Qell Acquisition Corp' to Go Public (Nasdaq).

Lilium announced the intention to list on Nasdaq through a merger with Qell Acquisition Corp., and also revealed the development of its 7-Seater electric vertical take-off and landing (eVTOL) jet.

The Highlights :

• Lillium's Global leader ambitions in regional electric air mobility. Development of the 7-Seater Lilium eVTOL Jet.
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• Lilium’s proprietary Ducted Electric Vectored Thrust (“DEVT”) technology in  the 7-Seater Lilium Jet .
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• Merger with 'Qell Acquisition Corp.' , to get  access to capital and industry experience.
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• Partnerships with world-leading aerospace, technology and infrastructure partners including Aciturri, Toray Industries, Lufthansa Aviation Training, Ferrovial and Tavistock Development Company.
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• 14 vertiport development sites confirmed in Florida, to be built and operated by Lilium’s infrastructure partners.
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• Combined company expected to add Barry Engle to the Board, joining current Board members including former Airbus CEO Tom Enders.
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The Lilium 7-Seater eVTOL Jet

The 7-Seater Lilium Jet will be Lilium’s first aircraft to go into serial production. Lilium’s aircraft will have 30x fewer components than a commercial airliner and is designed for ease of manufacturability and scalability.

The Lilium 7-Seater Jet has a projected cruise speed of 175 mph at 10,000 feet and a range of 155+ miles, including reserves. It is the culmination of five years of technology development across four generations of technology demonstrators, including Lilium’s full-scale 5-Seater.

Lilium applied for concurrent type certification for a high-capacity aircraft with EASA and the FAA in 2018. Development of the 7-Seater Lilium Jet began in stealth mode following this milestone. In 2020 the 7-Seater Lilium Jet received CRI-A01 certification basis from EASA.

The Merger :

Lilium GmbH has entered into a definitive business combination agreement with Qell Acquisition Corp.(“Qell”), a publicly listed special purpose acquisition company (Nasdaq: QELL). Qell, led by Barry Engle, a former president of General Motors North America, is focused on developing next-generation, sustainable mobility.

Upon closing of the transaction, the company will be called Lilium, and it is anticipated that ordinary shares will be listed on the Nasdaq under the ticker symbol LILM.

About Lilium :

Founded in 2015, Lilium’s headquarters and manufacturing facilities are in Munich, Germany, with teams based across Europe and the U.S.

Lilium’s 600+-strong team includes over 400 aerospace engineers and a leadership responsible for delivering some of the most successful aircraft in aviation history.