German air electric takeoff and landing (eVTOL) aircraft developer Lilium has taken another step toward securing funding it needs to push its battery-fueled jet toward commercialization, with the announcement that German officials have resumed work toward freeing up €100 million ($108 million) in loans to the company.
Lilium said Wednesday that Germany’s federal government and that of Bavaria had commissioned state development bank KfW to conduct due diligence on the company – a requisite for loan clearance. The news effectively jump-started efforts that had appeared to stall in late April. At that time, the eVTOL startup reacted negatively to the unexpected setback with veiled threats it would look for financing elsewhere.
Lilium said Wednesday that Germany’s federal government and that of Bavaria had commissioned state development bank KfW to conduct due diligence on the company – a requisite for loan clearance. The news effectively jump-started efforts that had appeared to stall in late April. At that time, the eVTOL startup reacted negatively to the unexpected setback with veiled threats it would look for financing elsewhere.
