Tesla’s big investor backs Lilium air taxi – invests 31 million euros

The future seems to be air mobility. In any case, this is what the company Baillie Gifford, Tesla’s second largest investor, thinks, which has just spent 31 million euros on shares in the startup Lilium.

An eVTOL planned for 300 km of range in 2025

Lilium is a German company that specializes in air mobility. Its CEO says, “ We believe in a world where anyone can fly anywhere, anytime. The world has never been so small”. She is working on the development of electric aircraft for vertical takeoff and landing, which is often shortened by the acronym eVTOL. The recent progress has convinced, investors are flocking.

In March, the German startup had raised 212 million euros from Tencent, Atomico, Freigeist Capital and LGT. Today, the investment fund Baillie Gifford has just offered itself for 31 million shares of Lilium. Second largest investor of Tesla, the fund holds 7.67% of its capital, valued at 9.17 billion euros. The company is obviously delighted with this success for its “flying car”.

Its most advanced 5-seater aircraft with 36 electric motors is capable of reaching 100 km/h at the moment. The first phase of testing is now complete, and the company remains confident about its goal of bringing it to market in 2025. Ultimately, the range should be 300 km for a top speed of 300 km/h. This distinguishes Lilium from its competitors, the majority of whom focus on urban mobility, such as Uber, which works in partnership with Hyundai.

Author: Nabeel K
Email: nabeel@wheelsjoint.com

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