Flying taxi startup Lilium in talks for Qell SPAC merger
March 5, 2021
Lilium, the developer of an on-demand regional air taxi service, is in talks to merge with blank-check company Qell Acquisition Corp., Bloomberg reported. A deal could value the combined group at over $2 billion. Qell, which is led by former General Motors executive Barry Engle, raised $350 million in its IPO last year. Lilium has secured over $390 million in total funding from investors including Baillie Gifford, Tencent and Atomico.