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

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…

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