To resolve the problem of transportation during a critical time like now, many startups and established brands have been working for many days. One such startup Lilium has additionally reserved almost $240 million to an aircraft project on the same mission.
Lilium is planning to go big with their project and emphasize on designing and manufacturing perfection. The work and the expectation always require time to meet perfection, and Lilium is investing enough of it. The company is estimating a launch date in 2025.
Being an inside round investment, it didn’t include any new investors. All of the investors are from which Lilium has already worked with. Though the ongoing coronavirus situation has created some challenges, it won’t affect the project much after closing such a fund.
It is now the biggest investment for an aircraft manufacturing startup to date. The investment has reached the amount of $340 million when the nearest competitor startups are working with $90 million highest. Lilium authorities think that it reflects faith and confidence in their products and business moral of their investors.
Lilium has already examined a prototype though it exploded into the air. The company has another prototype in its hand for the next testing, but it has been delaying to find out the cause behind the destruction of the first one.
Startups like Lilium are still budding. If successful, such a project is promising to deliver a better future by solving issues like current traveling conditions, crowding in the road. They could be more effective in the aspect of environmental pollution as their vehicles will be more eco friendly, and they will help to reduce carbon dioxide from the air. Assessing the promise may be new elegant regulation will be formed as there is none at this time.