 The SPAC craze continued on Tuesday as electric air-taxi startup Lilium said it would merge with Qell Acquisition Corp. in a deal worth 3.3 billion in pro forma equity value of the combined companies. Lilium is a German-based firm that is developing electric air-taxis that can vertically take-off and land. The firm is currently building a 7-seater jet that it expects to launch commercial operations for in 2024. According to Lilium, the electric taxi-jet has a projected cruise speed of 175 mph at 10,000 feet, and has a range of 155 miles. 