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.
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.