News Summary

Archer Aviation has successfully acquired the patent portfolio of the defunct electric aircraft startup, Lilium. This acquisition was the result of a competitive bidding process, where Archer outbid Ambitious Air Mobility Group and U.S.-based Joby Aviation with a winning bid of €18 million ($21 million) for Lilium’s 300 patent assets. Lilium, founded in 2015, was working on developing vertical take-off and landing aircraft and had raised over $1 billion before going public via a special purpose acquisition company (SPAC) merger in 2021. Despite high-profile investors and significant customer interest, the company ceased operations due to financial difficulties. Archer plans to integrate Lilium’s patents, which include critical eVTOL technologies, into its growing portfolio, potentially expanding its applications beyond its original air taxi network to include light-sport or regional electric flight and defense programs.