Lilium N.V. (NASDAQ: LILM), developer of the first all-electric
vertical take-off and landing (“eVTOL”) jet, announced today that
it is extending its existing partnership with InoBat. InoBat is
expected to provide high-volume production of the Lilium Jet’s
high-performance battery cells. The continued partnership reaffirms
Lilium’s multiple-sourcing strategy for cell production and will
contribute towards securing a healthy supply of Lilium’s battery
cells for entry into service of the Lilium Jet and the years
thereafter.
InoBat will build Lilium Jet battery cells at
its existing Volta I and future Volta II plants in Voderady,
Slovakia. Production at the Volta I plant is due to start in early
2024. The Volta II plant will be InoBat’s first gigafactory with up
to 4 gigawatt hours (GWh) of production capacity, just a fraction
of which is expected to be required to supply Lilium’s battery cell
needs in the coming years. Gotion High-Tech, supplier of the
Unified Cell that is due to be installed in up to 80% of all
Volkswagen Group’s future electric vehicles, holds a 25 percent
stake in InoBat. Gotion High-Tech, whose largest external
shareholder is Volkswagen Group, will contribute resources and
manufacturing know-how to ramp-up the capacity at InoBat’s Volta II
plant.
Lilium, which participated in InoBat’s recent
Series C investment round, will retain its valuable intellectual
property rights in the Lilium Jet battery technology. Multiple
third-party testing campaigns carried out on prototype Lilium
battery cells have demonstrated the energy capacity, power and
cycle life of this cutting-edge battery cell technology.
Yves Yemsi, COO of Lilium, said: “We are
delighted to move ahead with InoBat towards high-volume production
of Lilium Jet battery cells. Consistent with best practice and our
stated strategy, we expect that multiple cell suppliers will
support our aircraft program, with the aim to ensure a reliable
volume production of battery cells for years to come.”
Marian Bocek, Co-Founder and CEO of InoBat,
remarked: “Lilium’s vision to revolutionize air travel and its
commitment to innovation strongly align with our core strategy in
the global EV market. With the support of Gotion High-Tech, we look
forward to taking our ongoing collaboration with Lilium to the next
level and helping Lilium secure high-volume, high-quality
deliveries of its advanced battery cells.”
Steven Cai, Board Member and CTO at Gotion
High-Tech, commented: “At Gotion High-Tech, we aim to play a
pivotal role in the transition towards a carbon neutral world.
Through our partnership with InoBat, we look forward to bringing
high-performance electrical power to Europe’s eVTOL industry.”
LiliumContact
information for media:Meredith Bell Vice President,
External Communications +41794325779 press@lilium.com
Contact information for
investors: Rama BondadaVice 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, 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
About Gotion High-Tech
Gotion High-Tech Co., Ltd., as the first private
enterprise in the power battery industry to enter the capital
market in China, was listed on the Shenzhen Stock Exchange in May
2015. The Company specializes in the development and manufacture of
power batteries for new energy vehicles, energy storage
application, power transmission and distribution equipment, etc.
Gotion High-Tech is a technology-based Company focused on power
battery technology research and development and innovation. It is
one of the earliest enterprises engaged in the independent research
and development, production and sales of new energy vehicle power
lithium-ion batteries in China. Gotion High-Tech has global
operations and has carried out strategic cooperation with
Volkswagen, Tata Group, Vinfast and Jinko, among others.
About InoBat
InoBat specialises in pioneering research,
development, design, manufacturing, supply and recycling of
innovative electric batteries custom-designed to meet the specific
scope and requirements of global mainstream and specialist OEMs and
energy sector participants. InoBat’s sector focus is on the
automotive, commercial vehicle, motorsport, and aerospace sectors.
InoBat provides innovative solutions across the entire value chain
thanks to its “C2C” circular value-chain. InoBat is backed by a
strong consortium of strategic investors and partners such as Rio
Tinto, Gotion, Amara Raja, and the International Finance
Corporation of the World Bank Group, and its original sponsors the
IPM Group, Avanea and Across. InoBat achieved R&D grant
financing under the EU sponsored programme, Important Projects for
Common European Interest (IPCEI), and additional support from the
Slovak Government.
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) the future performance and impact of innovations of
Lilium N.V. and its subsidiaries (collectively, the “Lilium
Group”), (ii) the capacity of existing battery technology to meet
the energy demands of the Lilium Jet, (iii) the design, development
and manufacturing of the battery cells for the Lilium Jet, (iv) the
expected results of the business and business model of the Lilium
Group, (v) the Lilium Group’s ability to successfully patent our
intellectual property and the future performance of our
innovations, and (vi) the Lilium Group’s partnership with InoBat,
including InoBat’s planned manufacture of batteries for the Lilium
Jet at its Volta I plant and planned Volta II plant and its ability
to scale to high-volume production of batteries. These
forward-looking statements generally are identified by the words
“aim,” “anticipate,” “believe,” “could,” “expect,” “estimate,”
“future,” “intend,” “may,” “on track,” “plan,” “prepare”,
“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 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 the inability of InoBat to achieve
high-volume production of batteries and/or the failure of existing
battery technology to meet our expectations as well as 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, 2022, 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 the Company
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.
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