Lilium, a Munich-based startup developing a revolutionary on-demand air taxi service, is looking to be approved to begin creating the very first electric passenger jet plane.
Lilium has begun the process of securing certification for the planned five-seat air taxi from the European Aviation Safety Agency and will also commence an application with the U.S. Federal Aviation Administration, Christopher Delbrueck, the company’s incoming Chief Financial Officer, said in an interview.
Lilium aims to have a fleet of craft operating in cities across the globe by 2025, providing a pay-per-ride service that will be emission-free, five times faster than a car and produce less noise than a motorbike. The model, which achieved a first for a jet in 2017 when a prototype successfully transitioned between hover mode and horizontal flight, will have a 300-kilometer (186-mile) range, allowing it to travel between New York and Boston in just an hour.
Delbrueck will join Munich-based Lilium as its first CFO in September after serving as acting Chief Executive Officer at German energy company Uniper SE. He was head of finance during Uniper’s formation via a 2016 spinoff and listing of EON SE’s fossil-fuel power generation business.
Lilium has raised $100 million to fund development work, including $90 million secured in 2017, though further financing will be required to go to full-scale production, Delbrueck said. Only once the business is up and running will the company be in a position to consider an initial public offering, he added.
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