Flying taxi startup Lilium goes public via SPAC, unveils its new electric aircraft

Germany’s Lilium will be the latest electric aviation startup to go public via a reverse merger with a special acquisition company, or SPAC. Lilium will merge with Qell Acquisition, a SPAC founded by former General Motors executive Barry Engle. The newly formed company will list on Nasdaq under the ticker symbol “LILM.”

As part of the announcement, Lilium unveiled a new, seven-seat electric aircraft that it says will launch as part of an inter-city flying taxi service in 2025. Previously, the company’s prototype was said to have only five seats — so we can assume that Lilium’s ambitions to ferry more passengers are growing along with its financial expectations.

It’s the latest deal involving an electric vertical takeoff and landing...