Advanced discussions with the French government could lead to new job opportunities and bolster the nation’s export capacity.
Lilium N.V. (NASDAQ: LILM), a leading developer of all-electric vertical take-off and landing (eVTOL) jets, has announced ongoing discussions with the French government regarding the expansion of its production capacity into France. This strategic move aims to harness France’s robust aerospace resources and electrification expertise.
As of May 13, 2024, at the Choose France Summit in Versailles, the French government confirmed these discussions, which are anticipated to conclude within the next few 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 expand into France is driven by multiple factors including the country’s established aerospace industry, skilled workforce, and a supportive government environment. The company is attracted by the opportunity to leverage France’s “unique aerospace heritage and vast supplier base in aerospace and electrification,” as noted in their recent press release. The expansion is expected to involve a total future investment of up to €400 million over several years and could create up to 850 new direct jobs.
The company, founded in 2015, has been at the forefront of eVTOL technology and is the only manufacturer with a certification basis for eVTOL aircraft in both Europe and the United States. Initial production of the Lilium Jet started in 2023 near Munich, Germany, with full service entry planned for 2026 to meet the burgeoning global market demand. Lilium holds a significant order pipeline with over 780 jets, including binding orders and memorandum of understanding agreements from various global operators.
The establishment of new high-volume production facilities in France is poised to boost French exports, as the majority of the jets produced are expected to serve international markets. Lilium collaborates with multiple Tier 1 suppliers, including key French players like Saint-Gobain, Michelin, Expliseat, and Ratier-Figeac, which will further solidify its manufacturing presence in France.
This expansion aligns with Lilium’s goal of creating a sustainable and accessible mode of high-speed, regional transportation, contributing to the decarbonization of air travel. For more information about Lilium and their initiatives, you can visit their official website or contact their media and investor relations representatives.
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