Lilium Announces Advanced Discussions with French Government to Expand Industrial Footprint, Potentially Create up to 850 Jobs

Lilium seeks to expand its industrial footprint with the creation of high-volume production facilities in France.

(Munich, Germany) Electric vertical takeoff and landing (eVTOL) vehicle developer Lilium N.V. (NASDAQ: LILM) confirmed today that it is in advanced discussions with the French government regarding plans to expand its high-volume production capacity with an industrial footprint in France, potential government subsidies and loan guarantees, following the French government’s announcement about the talks at the Choose France Summit in Versailles today (May 13).

Untitled design (23)-4dcb10c7.png

Photo of Lilium's eVTOL, the Lilium Jet, courtesy of Lilium.

Per today’s press release from Lilium, the company 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. With an estimated total future investment of up to €400 million ($502 million) over several years, Lilium would have the potential to create up to 850 new direct jobs in France with this expansion of its industrial footprint.

The full-scale Lilium Jet model is set to be unveiled for the first time later this month at the European Business Aviation Convention and Exhibition (EBACE2024) in Geneva, Switzerland.

Lilium was founded in 2015 and is currently the only manufacturer worldwide with a certification basis for eVTOL aircraft in both Europe and the United States, per Lilium.

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’s current order pipeline consists of more than 780 Lilium Jets and includes binding orders and MoU agreements from operators in the United States, South America, Europe, Asia, and the Middle East. Per 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.

Newsfeed: Thursday, May 30, 2024