German electric vertical take-off and landing aircraft company Lilium plans to file for bankruptcy

Lilium, a well-known German electric vertical take-off and landing aircraft (eVTOL) company, known as the "Tesla of flying cars", plans to file for bankruptcy and seek self-management procedures due to running out of funds. Originally, Lilium promised to deliver two eVTOLs to customers by 2026, but has now announced that it will stop production. Lilium was founded by Daniel Wiegand in 2015 and was once valued at $3.3 billion, but eventually fell into crisis due to financial difficulties.