Lilium announces joint SPAC merger with Qell Acquisition Corp and new seven-seater eVTOL aircraft

Lilium has become the latest eVTOL aircraft developer to go public after announcing a SPAC merger with Qell Acquisition Corp, which is led by Barry Engle - the former president of General Motors North America.

The proceeds from the transaction, expected to be completed by Q2 2021, will help fund the launch of commercial operations planned for 2024.

The new seven-seater aircraft is the culmination of five years of technology development across four generations of demonstrators, including its full-scale five-seater eVTOL aircraft.

Lilium applied for concurrent type certification for a high-capacity aircraft with EASA and the FAA in 2018. In 2020, the 7-Seater Lilium Jet received CRI-A01 certification basis from EASA.

Video credit: Lilium.
NOTE: The aircraft in this video is Lilium's technology demonstrator, not its seven-seater aircraft.