Saudi Arabia’s FII Institute invests in German electric plane start-up Lilium

SourceThe National
SectorTechnology
CountrySaudi Arabia

Saudi Arabia's Future Investment Initiative Institute has invested in Germany's electric aircraft start-up Lilium. The investment is a part of a $3.3 billion transaction announced last week, which will see Lilium list on the Nasdaq market in the US through a merger with a special purpose acquisition company, Qell Acquisition Corporation. The start-up is raising about $830m through the deal. “Our investment in Lilium is aligned with the FII-Institute’s mission: to support initiatives and projects which will have a positive impact on humanity," Richard Attias, the institute's chief executive said in a statement to the Saudi Press Agency.

The FII Institute is a think ...read more...