GERMAN flying taxi firm Lilium has raised an extra $240m (£207m) in funding from backers such as Chinese tech firm Tencent despite ongoing uncertainty over the coronavirus outbreak.

Tencent led the funding round, with support from existing investors London venture capital giant Atomico, Freigeist and LGT.

The startup will use the cash for further development of its prototype jet as well as preparing its facilities to begin production. The company plans to have the model operating and airborne in several regions around the world by 2025.

(c) 2020 City A.M., source Newspaper