Lilium Q1, 2024 Shareholder Letter: Company Reports “Significant Progress”

Lil­i­um has released its Q1, 2024 Share­hold­er Let­ter this week and reports “sig­nif­i­cant progress.” The Ger­man-based eVTOL com­pa­ny dis­cuss­es “progress towards impor­tant mile­stones” in the devel­op­ment of its pio­neer­ing Jet. The Let­ter can be accessed on the com­pa­ny’s investor rela­tions web­site. The link is below. 

https://investors.lilium.com

Recent High­lights

: Pro­duc­tion of the first Lil­i­um Jets sig­nif­i­cant­ly advanced. 

: Bat­tery pack pro­duc­tion start­ed at Lilium’s pur­pose-built bat­tery facil­i­ty. 

: Test­ing under­way towards first manned flight and cer­ti­fi­ca­tion.

: Com­mer­cial order pipeline grew to over 780 air­craft, includ­ing firm orders and mem­o­ran­da of under­stand­ing as well as recent firm orders by Urban­Link and eVolare.

: Expand­ed sup­port net­work in key mar­kets part­ner­ing with Aéro­ports de la Côte d’Azur and UrbanV to bring Lil­i­um Jet flights to the French Riv­iera and with Atlantic Avi­a­tion to sup­port US-wide Lil­i­um Jet oper­a­tions. 

: Suc­cess­ful­ly con­clud­ed fundraise with $114 mil­lion gross pro­ceeds. 

: Start­ed due dili­gence process for intend­ed loan with guar­an­tees from the Ger­man Fed­er­al Gov­ern­ment and the State of Bavaria.

: In advanced dis­cus­sions with the French gov­ern­ment towards a gov­ern­ment guar­an­tee-backed loan.

Lil­i­um CEO Klaus Roewe com­ment­ed,  “Our focus is on the deliv­ery of key pro­gram mile­stones such as the start of pro­duc­tion of our avi­a­tion-grade bat­tery packs achieved in April.”

He con­tin­ued, “Our engi­neer­ing and man­u­fac­tur­ing teams are cur­rent­ly work­ing full speed to achieve the first manned flight of the Lil­i­um Jet, tar­get­ed for the end of this year. We will be keep­ing the mar­ket abreast of pro­gram progress over the course of the year.” 

For more infor­ma­tion

www.lilium.com

(Top image: Lil­i­um Board Mem­ber, Bar­ry Engle and Lil­i­um CEO, Klaus Roewe)

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