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Lilium Jet. Photo courtesy of Lilium

Electric aviation startup Lilium is going public via merger with a special purpose acquisition company as it looks to commercialize a seven-seat vertical takeoff and landing plane (VTOL) for regional travel.

Driving the news: The Munich-based company yesterday announced a merger with Qell Acquisition Corp. that values the combined company at roughly $3.3 billion.

What's next: Lilium said the deal and new investments from several funds will bring in hundreds of millions of dollars to help launch the commercial operation of Lilium Jet in 2024.

  • The plane has a range of over 155 miles, a cruising speed of 175 miles per hour, allowing it to provide "sustainable, high-speed transportation" for regional travel, the announcement states.
  • Per Reuters, "Lilium intends to launch its first network in Florida, where it will site its first Vertiport at Lake Nona, a smart city being built near Orlando International Airport."

Yes, but: Several steps remain before this vision is realized, including various sign-offs from aviation regulators on both sides of the Atlantic.

  • The Verge has more here on the Lilium deal.

Why it matters: Electric aviation holds the promise of curbing carbon emissions from air travel, and investors are staking a number of companies.

  • Lilium follows plans by electric VTOL hopefuls Joby Aviation and Archer to go public as well.

Go deeper: Transportation's next big thing: flying taxis

Go deeper

Super typhoon Surigae explodes to Cat. 5 intensity

Super Typhoon Surigae seen on satellite imagery Saturday morning east of the Philippines. (CIRA/RAMMB)

Super Typhoon Surigae surged in intensity from a Category 1 storm on Friday to a beastly Category 5 monster on Saturday, with maximum sustained winds estimated at 190 mph with higher gusts.

Why it matters: This storm — known as Typhoon Bising in the Philippines — is just the latest of many tropical cyclones to undergo a process known as rapid intensification, a feat that studies show is becoming more common due to climate change. It weakened slightly, to the equivalent of a strong Category 4 storm, on Sunday.

3 hours ago - World

Biden adviser warns "there will be consequences" for Russia if Navalny dies

The Biden administration warned the Russian government "that there will be consequences" if jailed Russian opposition leader Alexei Navalny dies, National Security Adviser Jake Sullivan told CNN on Sunday.

The big picture: Sullivan also defended President Biden for not mentioning Navalny in a Thursday speech about Russia or in a Tuesday call with Russian President Vladimir Putin, saying the White House aims to deal with the issue "privately and through diplomatic channels."

3 killed, 2 wounded overnight in Kenosha bar shooting

Three people died and two were hospitalized with serious injuries after a gunman entered bar in Kenosha County, Wisconsin, the police department said in a statement on Sunday. Police responded to the shooting at around 12:42 a.m. and the suspect has not been found.

The big picture: The midnight shooting is the latest in a string of deadly mass shootings to hit the U.S. since March, fueling a debate in Washington about how to regulate the weapons.

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