The grant supports an A$8 million program that will run to December 2023 which involves development and optimization of a quiet, efficient and lightweight propulsion system that increases the range and reduces the noise and cost of the Vertiia.
High-profile electric air taxi startup Lilium will become a publicly traded company Sept. 15 when its Class A ordinary shares and redeemable warrants will be listed on the Nasdaq stock exchange under the ticker symbols “LILM” and “LILMW” respectively.
Only a fraction of the investment required to make urban air mobility (UAM) an economically or socially relevant mode of transportation has been raised, and players in the market will need to take the long view if they want to see a return on their investment, cautions a report by Porsche Consulting.
Morgan Stanley has significantly reduced its forecast for the urban air mobility (UAM) market by 2040 and now expects regulatory hurdles to result in a substantially slower ramp-up in commercial services than anticipated.
German regional air mobility startup Lilium is to go public in a deal expected to provide up to $830 million in funds to complete certification, begin production and launch commercial operation of its piloted seven-seat Lilium Jet air taxi in 2024.
Xeriant, a three-year-old aerospace holding company that includes the Halo concept for an electric-vertical-takeoff-and-landing (eVTOL) taxi, is preparing to offer more public shares to raise funds for acquisitions and other endeavors.