Riyadh – Mubasher: The Future Investment Initiative invested in Lilium under a strategy that aims to develop and leverage sustainable and environment-friendly alternatives for traditional combustion engines in the air travel industry, Saudi Press Agency reported.
Lilium provides electric jets that can take off and land vertically, which can offer a sustainable and less carbon-intensive way for travellers. The jets can connect regional destinations for up to 250 kilometres.
The institute, meanwhile, is a new class of hybrid Think Tank Foundation, which supports the development of technologies to address the biggest social and environmental challenges.
Future Investment Initiative’s CEO, Richard Attias, said: “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. Our trilogy strategy: Think-Xchange-Act is allowing us to play an active role in the new sustainable economy."