Lilium has announced its decision to file for insolvency under German bankruptcy law for its two principal subsidiaries; the move did not come as a shock.
While the company has made significant progress in development and was nearing first flight of a production-standard aircraft, it has run out of time and money.
To achieve power-on, Lilium applied 900-volt external power to the aircraft, where it was converted to lower voltage to supply electrical and avionics systems.
Lilium's board turnover comes on the heels of the Bavarian state government clearing the way for a €50 million ($55 million) loan guarantee to support the AAM outfit.
Lilium has begun integration testing of the electric power system for the Lilium Jet electric vertical-takeoff-and-landing aircraft in a laboratory in Munich.
