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Lilium secures state aid from Germany to retain technology

Passenger eVTOL Aircraft

Sep 11, 2024

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Passenger eVTOL Aircraft

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Sep 11, 2024

Lilium secures state aid from Germany to retain technology

Funding

Lilium, a Nasdaq-listed eVTOL jet developer, is set to receive EUR 50 million (~USD 55 million) in state aid from Germany, with support from the Bavarian State Government and the German Federal Transportation Ministry.
The funding aims to keep Lilium's key technology in Germany and prevent the company from relocating abroad. The decision comes after reports that Lilium was considering foreign investors and moving out of Germany.
Analyst QuickTake: Lilium began production of its Lilium Jet in 2023 and plans to enter service in 2026. The company's recent efforts in preparing for larger-scale production include its geographic expansion efforts with Milan Airports and Skyports for Italy in July 2024 , and Groupe Aéroport de Paris (ADP) also in July 2024 for Europe, the Middle East, and Asia, the Bao'an District for China in June 2024 , and UrbanLink for South Florida in May 2024 . Lilium also announced in July 2024 that its first customer deliveries are set for 2026 as planned.

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