Lilium has released its Q1 2024 Shareholder Letter. The key issues in the letter include:
- 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.
- Concluded fundraise with USD114 million gross proceeds.
- Started due diligence process for intended loan with guarantees from the German Federal Government and the State of Bavaria.
- Lilium in advanced discussions with the French government towards a government guarantee-backed loan.
According to Lilium CEO Klaus Roewe: “Lilium continues its disciplined approach. Our focus is on the delivery of key programme milestones such as the start of production of our aviation-grade battery packs achieved in April. 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.”