Germany’s Lilium plans to start looking for imaginable air taxi gathering sites in the United States later this year, with the goal of having an operational factory until early 2029 to gain a foothold in one of the world’s largest markets, its company said. Executive Director. .
Lilium plans to modernize the site next year and plans to invest “more than 250 to three hundred million” euros ($271 to $325 million) in the final assembly line and production, Klaus Roewe told Reuters.
But the company “certainly needs financial support” to get the meeting underway, added Roewe, a former Airbus veteran.
At the end of March, Lilium had 102 million euros of liquidity, but before raising the 114 million dollars of capital necessary to make its first manned flight.
Lilium is also in talks to obtain budget loans with the help of the German and French governments, the latter related to Lilium’s progress and the expansion of its commercial presence in France.
Lilium is one of several players in the vertical takeoff and landing (eVTOL) aircraft market that has caught the attention of airlines and automakers.
Executives and analysts at the Farnborough Air Show have noted that the industry faces many demanding technological and regulatory situations before it can generate passengers and profitability, something that has not been lost on some investors.
Lilium’s US-listed shares have fallen 21. 7% to 92 cents this year, while peers Archer Aviation and Joby Aviation are down 25. 73% and up 0. 45%, respectively.
Founded in 2015, Lilium is targeting the regional transportation market with a plane with a range of 250 kilometers (155 miles) that can carry up to six passengers, unlike many competitors that primarily fly shorter routes between cities and suburbs.
Lilium aims for its service to enter service in 2026.
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