"After 10 years and 10 months, it is a sad fact that Lilium has ceased operations. The company that Daniel, Sebastian, Matthias and I founded can no longer pursue our shared belief in more environmentally friendly aviation. This is heartbreaking and the timing feels painfully ironic," wrote Nathen.
Lilium, which was developing vertical take-off and landing (VTOL) aircraft with speeds of up to 100 km/h, has struggled for months. The startup's vision for electric aircraft attracted backers like Tencent and locked in customers, including an order for 100 electric jets from Saudi Arabia.
In October, Lilium said it would file for insolvency - the U.S. equivalent of bankruptcy - after failing to raise emergency money from the German government. Under insolvency, Lilium lost control of its subsidiaries, which includes Lilium eAircraft.
The layoffs cover the bulk of the company's workforce and come a few days after about 200 workers were let go, according to a regulatory filing on December 16.
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