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Saudi Arabia latest eVTOL investment: FII-I invests in Lilium

By Chris Stonor

Saudi Arabia continues to invest in the nascent eVTOL industry after it was announced recently that the kingdom-based Future Investment Initiative Institute (FII-I) has provided finances to the German manufacturer Lilium, reports alarabiya.net.

This is part of the investment company’s strategy “to develop and leverage sustainable and environmentally-friendly alternatives to traditional combustion engines in the air travel industry.”

A year ago, Abdul Latif Jameel (ALJ), a Saudi family business, best known for being a distributor of Toyota vehicles, invested an undisclosed amount in the U.S eVTOL company, Joby Aviation.

The Riyadh-based FII-I is a new generation of non-for-profit global foundations that seek to empower the “world’s brightest ideas to materialise and scale sustainably.” The FII Institute is focused on four key impact areas that have the power to positively impact humanity: Healthcare, Sustainability, Robotics, and Artificial Intelligence.

Richard Attias, CEO of the FII Institute, said, “Our investment in Lilium is aligned with the FII-Institute’s mission: to support initiatives and projects which will have a positive impact on humanity. Our trilogy strategy, Think-Xchange-Act, is allowing us to play an active role in the new sustainable economy.”

Richard Attias

Alexander Asseily, Chief Strategy Officer, Lilium, added, “We view the FII Institute as one of the leading global platforms for sustainable impact investments and a strategic partner who can help drive our vision for an open global architecture for carbon neutral air travel.”

The investment amount remains unknown.

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