Can Flying Taxis Work? Tencent Invests in German Aviation Startup Lilium To Find Out

German aviation

The Chinese internet giant Tencent has become an investor in a German aviation company called Lilium,

which is developing an electric flying taxi that can take off and land vertically but fly horizontally.

Lilium announced a $90 million series B funding round on Tuesday, in which

Tencent joins existing investors Atomico and Obvious Ventures, along with the Lichtenstein-based private banking group LGT.

READ ALSO: BMW TO OFFER 12 FULLY ELECTRIC CAR MODELS BY 2025

BUT

Lilium said it will use its fresh investment to grow its team beyond its current headcount of 70 and

build a five-seater vehicle called the Lilium Jet. The Munich-based firm showed off a

smaller prototype of its electric vertical take-off and landing (eVTOL) vehicle earlier this year,

demonstrating how it could transition between its vertical and horizontal modes.

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SOURCE LINK:http://fortune.com/2017/09/05/tencent-invest-lilium-flying-car/

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