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CustomCells enters insolvency as Lilium's collapse drains battery supplier's finances

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Lilium's collapse has claimed another victim, with German battery supplier CustomCells - which had pledged to fund the electric air taxi developer's revival - now itself facing insolvency.
Customcells, a German battery manufacturer, has entered insolvency proceedings due to financial strain caused by the collapse of its major customer, Lilium, an electric vertical take-off and landing (eVTOL) aircraft developer. The insolvency filing was made on 27 June at the district court of Tübingen, with the company citing Lilium's failure to pay for delivered batteries as the primary reason for its financial difficulties. Customcells, which had been working with Lilium since 2019, had to lay off around 100 employees and is now seeking a restructuring plan to continue operations. The company's financial troubles highlight the ripple effects that the failure of a key player like Lilium can have on its supply chain partners in the emerging eVTOL industry.

Read the Full Flightglobal Article at:
[ https://www.flightglobal.com/aerospace/customcells-enters-insolvency-as-liliums-collapse-drains-battery-suppliers-finances/162850.article ]