Lilium aims for IPO via Spac

The air taxi company is aiming for Wall Street. The shell company of an ex-car manager is supposed to help. A valuation in the billions is being discussed.

Air taxi startup Lilium may be looking to go public. This is reported by both the Handelsblatt as well as the news agency Reuters. The company itself has not yet commented on the rumours.

Allegedly, the Munich-based company wants to use a spac to go to the capital market. Specifically, Qell Acquisition Corp., the shell company of Barry Engle. Engle was previously head of North America at US carmaker General Motors.

Lilium could thus be ahead of its Bruchsal-based competitor Volocopter, which is also said to be aiming for an IPO via Spac (Startbase reported). US rival Joby Aviation also used such an IPO shell in February. Joby, which is internationally regarded as a market leader in the field of air taxis, reached a valuation of 6.6 billion US dollars. Lilium is said to be valued at only half that amount.

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