Defunct electric aircraft startup Lilium’s tech lives on over at Archer

Lilium, a defunct electric aircraft startup, has seen its technology and talent acquired by Archer, a rival electric aviation company. Archer emerged victorious in a competitive bidding process that also included Ambitious Air Mobility Group and Joby Aviation, another U.S.-based electric aviation startup. The acquisition of Lilium's technology and team is expected to bolster Archer's capabilities in developing its own electric vertical take-off and landing (eVTOL) aircraft. Lilium had been working on a unique electric jet-powered aircraft design, which Archer now plans to integrate into its own projects. The move highlights the ongoing consolidation and competition within the burgeoning electric aviation industry, as companies vie to secure the best talent and technology to gain a competitive edge. The acquisition is seen as a strategic move by Archer to strengthen its position in the race to bring eVTOL aircraft to market.