Advance discussions with the French government could create new job opportunities and strengthen the country's export capacity.
Lilium NV (NASDAQ: LILM), a leading developer of electric vertical takeoff and landing (eVTOL) jets, announced that it is in ongoing discussions with the French government regarding expanding production capacity to France. This strategic move aims to leverage France's strong aerospace resources and electrification expertise.
The French government confirmed these discussions at the French Options Summit in Versailles on May 13, 2024, which are expected to be finalized in the coming weeks. Lilium is evaluating several potential sites for this expansion, particularly in regions known for their aerospace and battery production capabilities, such as Nouvelle Aquitaine.
Lilium's decision to enter France was driven by a variety of factors, including France's established aerospace industry, skilled workforce, and supportive government environment. As noted in a recent press release, the company is attracted by the opportunity to leverage France's “unique aerospace heritage and extensive supplier base in the aerospace and electrification sectors.” The expansion is expected to involve a total investment of up to €400 million over the next few years and could create up to 850 new direct jobs.
Founded in 2015, the company is at the forefront of eVTOL technology and is the only manufacturer with a certification base for eVTOL aircraft in both Europe and the United States. Initial production of Lilium Jet began near Munich, Germany in 2023, with full service launch planned in 2026 to meet rapidly growing global market demand. Lilium has a significant order pipeline for over 780 jets, including binding orders and memorandums of understanding from a variety of global operators.
The establishment of a new mass production facility in France is expected to increase French exports as most of the jets produced are expected to be supplied to international markets. Lilium will further consolidate its manufacturing presence in France by working with several Tier 1 suppliers, including major French companies such as Saint-Gobain, Michelin, Expliseat and Ratier-Figeac.
This expansion is consistent with Lilium’s goal to contribute to the decarbonization of air travel by creating sustainable and accessible high-speed regional transportation. For more information about Lilium and its projects, please visit its official website or contact its media and investor relations representative.
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