Lilium releases Q2 2023 Shareholder Letter
July 25 2023 - 6:30AM
Lilium N.V. (Nasdaq: LILM) (“Lilium” or the “Company”), developer
of the first all-electric vertical take-off and landing (“eVTOL”)
jet, has released its Q2 2023 Shareholder Letter. The Shareholder
Letter, which discusses Lilium’s progress towards important
milestones in the development of its revolutionary Lilium Jet, can
be accessed on the Lilium investor relations website.
Recent Accomplishments
- Arranged upsized
$192 million capital raise supported by leading German technology
investors enabling Lilium to continue the development of its Lilium
Jet at full pace.
- Successfully
conducted final Design Organization Approval (DOA) audit by EASA,
remaining on track to achieve DOA by end of year.
- Received FAA G-1
certification basis for the Lilium Jet, making Lilium the only
eVTOL manufacturer with an EASA and FAA certification basis for a
powered lift eVTOL aircraft.
- Entered important
China market via partnership with the Bao’an District of Shenzhen
municipality and preliminary agreement with Heli-Eastern for 100
Lilium Jets.
- Significant progress
achieved on type-conforming aircraft development, including
conclusion of wind tunnel test campaign, testing of the first
prototype DENSO e-motor on a Lilium test rig and completion of
first primary aircraft structures and composite parts.
- Q2 adjusted cash
spend within budget thanks to company efficiencies and
prioritization of key program milestones.
Management Commentary
Lilium CEO Klaus Roewe commented:
“The enormously positive response to our Lilium Jet cabin at the
Paris Air Show in June highlighted our confidence in our go to
market strategy and developing the eVTOL that customers demand. We
are pleased to have continued in Q2 to meet all key development and
certification milestones for the targeted first manned flight of
our type-conforming Lilium Jet in late 2024.”
Lilium contact information for Media: Meredith
BellVice President, External Communications +41 79 432 57
79press@lilium.com
Contact information for Investors: Folke
RauscherInvestor Relations investors@lilium.com
About Lilium
Lilium (NASDAQ: LILM) is creating a sustainable
and accessible mode of high-speed, regional transportation for
people and goods. Using the Lilium Jet, an all-electric vertical
take-off and landing jet, offering leading capacity, low noise, and
high performance with zero operating emissions, Lilium is
accelerating the decarbonization of air travel. Working with
aerospace, technology, and infrastructure leaders, and with
announced sales and indications of interest in Europe, the United
States, China, Brazil, UK, and the Kingdom of Saudi Arabia,
Lilium’s 800+ strong team includes approximately 450 aerospace
engineers and a leadership team responsible for delivering some of
the most successful aircraft in aviation history. Founded in 2015,
Lilium’s headquarters and manufacturing facilities are in Munich,
Germany, with teams based across Europe and the U.S. To learn more,
visit www.lilium.com.
Forward-Looking Statements
This press release contains certain
forward-looking statements within the meaning of the U.S. federal
securities laws, including, but not limited to, statements
regarding (i) Lilium N.V.’s and its subsidiaries (collectively, the
“Lilium Group”) proposed business and business model, (ii) the
markets and industry in which the Lilium Group operates or intend
to operates, (iii) the anticipated timing of the commercialization
and launch of the Lilium Group’s business in phases, (iv) our
ability to successfully patent our intellectual property and the
future performance of our innovations, (v) the expected results of
the Lilium Group’s business and business model, including when
launched in phases, (vi) our capital raising expectations and the
expected consummation of the various capital raising transactions
described herein and the use of proceeds therefrom, (vii) the funds
having been raised so far in 2023 covering much of the estimated
capital needed to achieve first manned flight of the type
conforming aircraft, (viii) the timing of Lilium’s targeted
regulatory milestones (e.g., achieving first manned flight of the
type conforming aircraft in late 2024), and (ix) Lilium’s
anticipated receipt of pre-delivery payments and the extent to
which such payments will help cover Lilium’s capital requirements.
These forward-looking statements generally are identified by the
words “anticipate,” “believe,” “could,” “expect,” “estimate,”
“future,” “intend,” “may,” “on track,” “plan,” “project,” “should,”
“strategy,” “will,” “would” and similar expressions.
Forward-looking statements are predictions, projections and other
statements about future events and are subject to risks,
uncertainties and assumptions, and are subject to change at any
time. Actual events or results may differ materially from those
contained in the forward-looking statements. Factors that could
cause actual future events to differ materially from the
forward-looking statements in this press release include the risk
that the offerings described herein are not consummated on a timely
basis or at all as well as the risks identified under the heading
“Risk Factors” in our Annual Report on Form 20-F filed with the SEC
as well as other information we file with the SEC. We caution
investors not to rely on the forward-looking statements contained
in this press release. You are encouraged to read our filings with
the SEC available at www.sec.gov for a discussion of these and
other risks or uncertainties. Forward-looking statements speak only
as of the date they are made. Lilium assumes no obligation to, and
does not intend to, update or revise these forward-looking
statements, whether as a result of new information, future events
or otherwise. Lilium’s business is subject to substantial risks and
uncertainties including those described in Lilium’s filings with
the SEC referenced above.
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