Lilium launches China Legal Entity as part of collaboration with the Bao’an District of Shenzhen

June 10, 2024 at 07:30 AM EDT

Collaboration will establish Lilium as an active industry player in the region’s low altitude economy
Lilium is the first European eVTOL manufacturer selected to operate in the district
Agreement builds upon a Memorandum of Understanding signed last year and will see Lilium establish a regional headquarters in the district

MUNICH, Germany, June 10, 2024 (GLOBE NEWSWIRE) -- Lilium (NASDAQ: LILM), developer of the first all-electric vertical take-off and landing (eVTOL) jet and global pioneer in regional air mobility (RAM), has signed a collaboration agreement with the Shenzhen-based Bao’an District. Under the agreement, Lilium has established its [APAC] regional headquarters in the district by way of its recently created Chinese entity (力翎航空), meaning “Powerful Wing”.

The collaboration will establish Lilium as an active and contributing industry player in the region’s low altitude economy, supporting relationships with local infrastructure partners, customers, and regulatory authorities. While the partnership initially focuses on the Guangdong–Hong Kong-Macao Greater Bay Area, with a population of over 85 million people, Lilium intends to grow across China and the broader Asia-Pacific region in the future. Lilium appreciates Bao’an District’s extensive regional knowledge which is essential to build the foundation for premium eVTOL operations in the Greater Bay Area.

Lilium is currently in the process of opening its regional headquarters in the Bao'an Low Altitude Economy Industry Public Service Center and is the first European eVTOL manufacturer to base a regional office in the district. The regional headquarters will support Lilium Jet sales, services, and support in China and the Asia-Pacific region.

Lilium will also undertake certification and validation in China, which is expected to account for approximately 25 percent of the global eVTOL market. By establishing the regional headquarters in China, Lilium will create new jobs in the Shenzhen region. Local recruitment is expected to begin this year, with a focus on commercial activities. Additionally, Lilium will participate in low altitude economy industry events, work with local infrastructure partners to ensure compatibility with the Lilium Jet, and will open opportunities for local supply chain operations.

倪勇 Yong Ni, a representative of the Bao’an District, said: “We are proud to welcome Lilium to Bao’an District as part of our shared mission to build the low altitude economy of the future. This valuable collaboration will create exciting new opportunities and support the development of the necessary infrastructure to bring sustainable regional aviation to Shenzhen.”

Klaus Roewe, CEO of Lilium, said: “China represents a huge opportunity for the eVTOL industry and this partnership with the Bao’an District will expand our footprint even further in China. We believe the Lilium Jet is well placed to meet the demands of customers in China and across the region. We are particularly grateful for the modern facilities provided by the Bao'an District in the Bao'an Low Altitude Economy Industry Public Service Center, and for the holistic support they offer to encourage growth in the low altitude economy industry.”

Production of the Lilium Jet commenced late last year at the Lilium HQ near Munich in Germany, with first piloted flight targeted for end of 2024.

Lilium contact information for media:
Christine Pierk
Communications Manager
+49 151 53919945
press@lilium.com

Lilium contact information for investors:
Rama Bondada
Vice President, Investor 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, designed to offer 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, the UK, the United Arab Emirates, and the Kingdom of Saudi Arabia, Lilium’s 1000+ strong team includes approximately 500 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.

Lilium 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 intends to operate; (iii) the Lilium Group’s partnership with the Bao'an District of Shenzhen municipality including the agreement and related collaboration mentioned above; (iv) the anticipated timing of the commercialization and launch of the Lilium Group’s business in phases and the expected results of the Lilium Group’s business and business model, including when launched in phases; and (v) the Lilium Group’s internal projections and estimates with respect to the potential demand for eVTOL aircraft in China. 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 that are based on management’s current expectations with respect to future events and are based on assumptions and are subject to risk and uncertainties that 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 those risks and uncertainties discussed in Lilium’s filings with the U.S. Securities and Exchange Commission (the “SEC”), including in the section titled “Risk Factors” in our Annual Report on Form 20-F for the year ended December 31, 2023, on file with the SEC, and similarly titled sections in Lilium’s other SEC filings, all of which are available at www.sec.gov. Forward-looking statements speak only as of the date they are made. You are cautioned not to put undue reliance on forward-looking statements, and 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.