Lilium, developer of the all-electric vertical take-off and landing (“eVTOL”) jet, has released its Q2 2023 Shareholder Letter. The letter discusses Lilium’s progress towards important milestones in the development of its Lilium Jet and lists the following recent accomplishments.
- “Arranged upsized USD 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 prioritisation of key program milestones.”
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