Lilium, a company working on flying taxis that can take off and land vertically, has ceased operations. As TechCrunch notes, German media Grnderszene was the first publication to report that it laid off 1,000 workers a few days ago after it failed to secure more financing to continue its technology's development. Patrick Nathen, the company's co-founder, has announced that the company has stopped all operations on LinkedIn. Tagging his co-founders, he said that they can no longer continue working on their "shared belief in greener aviation," at least under Lilium.The German company has been testing its VTOL electric air taxis for a while now. Its vehicle took off for the first time for its maiden flight back in 2017, and it completed its first phase of flight tests in 2019. Lilium was able to prove that its VTOL air taxis are capable of flying at speeds of over 100 kilometers per hour, though the Lilium Jet prototype it unveiled in 2019 was supposed to be able go as fast as 300 kmh and to have a range of 300 kilometers.Lilium has been struggling financially over the past year, but its CEO reportedly remained optimistic about being able to secure enough funding as recently as last month. Grnderszene said that a small number of people will remain employed to help with liquidation. The company has yet to announce what will happen to its technology and the rest of its assets, but its patent attorney, Fabien Mller, wrote in a post that he's managing the transition of Lilium's intellectual property.This article originally appeared on Engadget at https://www.engadget.com/transportation/flying-taxi-maker-lillium-lays-off-1000-workers-and-ceases-operations-160025593.html?src=rss