German Flying-Taxi Startup Is In Talks to Merge With Qell SPAC

Lilium, a German startup that’s making an all-electric vertical takeoff and landing passenger jet, is in talks to go public through a merger with Qell Acquisition Corp., a special purpose acquisition company, according to people with knowledge of the matter.

Qell has begun discussions to raise new equity for a transaction to value the combined entity at more than $2 billion, said one of the people, who requested anonymity. As with any deal that hasn’t been finalized, it’s possible terms change or talks fall apart.