Lilium in advanced discussions with French government to expand industrial footprint with high-volume facilities in France
May 13 2024 - 7:00AM
Lilium N.V. (NASDAQ: LILM), developer of the first
all-electric vertical take-off and landing (“eVTOL”) jet and global
pioneer in Regional Air Mobility (“RAM”), today confirmed that it
is in advanced discussions with the French government on plans to
expand its high-volume production capacity with an industrial
footprint in France and on potential government subsidies and loan
guarantees. This follows a French government announcement of the
talks at the Choose France Summit in Versailles on May 13.
Lilium is currently evaluating several possible
sites in France, including in the aerospace and battery production
hotbeds of Nouvelle Aquitaine, to expand its industrial footprint,
with discussions expected to reach conclusion in the coming weeks.
Among the many reasons to choose France, Lilium is attracted by
France’s well-established aerospace industry, expertise in electric
mobility, highly skilled workforce, and supportive government
environment. With an estimated total future investment of up to
€400 million over several years, Lilium would have the potential to
create up to 850 new direct jobs with this expansion of its
industrial footprint.
Founded in 2015, Lilium is a world-leading
pioneer in the field of eVTOL technology and electric regional air
mobility; and the only manufacturer worldwide with a certification
basis for eVTOL aircraft in both Europe and the United States.
Initial production of the Lilium Jet began in
2023 at Lilium’s headquarter site close to Munich, Germany. With
entry into service of the Lilium Jet planned for 2026, Lilium is
preparing for larger scale production to meet expected global
market demand.
Lilium has an order pipeline consisting of over
780 Lilium Jets including binding orders and MoU agreements from
operators in the United States, South America, Europe, Asia, and
the Middle East. According to estimates by Morgan Stanley as of
2021, the global eVTOL market could be worth $1 trillion in global
revenues by 2040. The planned new high-volume production facilities
in France will serve the global market.
Lilium is currently working with multiple Tier 1
suppliers, including established French players such as
Saint-Gobain, Michelin, Expliseat and Ratier-Figeac. By expanding
its manufacturing operations in France, Lilium expects to further
leverage France’s unique heritage and vast supplier base in
aerospace and electrification.
Contact information for media:
Rainer Ohler+49 172 4890353press@lilium.com
Contact information for
investors: Rama Bondada Vice President, Investor Relations
investors@lilium.com
About Lilium Lilium (NASDAQ:
LILM) is creating a sustainable and accessible mode of high-speed,
regional transportation for people and goods. Using the Lilium Jet,
an all-electric vertical take-off and landing jet, designed to
offer leading capacity, low noise, and high performance with zero
operating emissions, Lilium is accelerating the decarbonization of
air travel. Working with aerospace, technology, and infrastructure
leaders, and with announced sales and indications of interest in
Europe, the United States, China, Brazil, the UK, the United Arab
Emirates, and the Kingdom of Saudi Arabia, Lilium’s 1000+ strong
team includes approximately 500 aerospace engineers and a
leadership team responsible for delivering some of the most
successful aircraft in aviation history. Founded in 2015, Lilium’s
headquarters and manufacturing facilities are in Munich, Germany,
with teams based across Europe and the U.S. To learn more, visit
www.lilium.com.
Forward Looking StatementsThis
press release contains certain forward-looking statements within
the meaning of the U.S. federal securities laws, including, but not
limited to, statements regarding: (i) Lilium N.V.’s and its
subsidiaries (collectively, the “Lilium Group”) proposed business
and business model; (ii) the markets and industry in which the
Lilium Group operates or intends to operate, including the
estimated potential size of the global eVTOL market; (iii) the
anticipated timing of the commercialization and launch of the
Lilium Group’s business in phases, including the Lilium Jet’s entry
into service; (iv) the timing and successful completion of
discussions with the French government regarding development of
production capacity in France and the possibility of any related
government loans or guarantees, and (v) the size and timing of any
prospective investment by Lilium Group into facilities located in
France. These forward-looking statements generally are identified
by the words “anticipate,” “believe,” “could,” “expect,”
“estimate,” “future,” “intend,” “may,” “on track,” “plan,”
“project,” “should,” “strategy,” “targeted,” “will,” “would,” and
similar expressions. Forward-looking statements are predictions,
projections, and other statements about future events that are
based on management’s current expectations with respect to future
events and are based on assumptions and are subject to risk and
uncertainties that are subject to change at any time. Actual events
or results may differ materially from those contained in the
forward-looking statements. Factors that could cause actual future
events to differ materially from the forward-looking statements in
this press release include those risks and uncertainties discussed
in Lilium’s filings with the U.S. Securities and Exchange
Commission (the “SEC”), including in the section titled “Risk
Factors” in our Annual Report on Form 20-F for the year ended
December 31, 2023, on file with the SEC, and similarly titled
sections in Lilium’s other SEC filings, all of which are available
at www.sec.gov. Forward-looking statements speak only as of the
date they are made. You are cautioned not to put undue reliance on
forward-looking statements, and Lilium assumes no obligation to,
and does not intend to, update, or revise these forward-looking
statements, whether as a result of new information, future events
or otherwise.
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