Aviation startup Lilium to float in US via US$3.3 bil SPAC deal

Aviation startup Lilium to float in US via US$3.3 bil SPAC deal

The Edge Markets - World·2021-03-31 05:07

BERLIN (March 30): German air shuttle startup Lilium said on Tuesday that it would float on the US stock market via a reverse merger with Qell Acquisition Corp, a blank-cheque acquisition company, in a deal valuing the combined business at US$3.3 billion.

Munich-based Lilium is competing with other aviation companies to deploy battery-powered aircraft that can take off and land vertically, offering a new way for travellers to beat traffic and hop between cities.

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