German company Lilium plans to start exploring imaginable air taxi meeting sites in the United States later this year, with the goal of having a factory operational until early 2029 to gain a foothold in one of the world’s largest markets, its chief executive said.
Lilium plans to finish next year and plans to invest “more than 250 million to 300 million” euros ($271 million to $325 million) in the final reunion line and production improvements, Roewe told Reuters.
But the company “certainly needs financial support” to get the meeting off the ground, added Roewe, a former Airbus veteran.
By the end of March, Lilium had 102 million euros in cash, but that was before raising the $114 million in capital needed to make its first manned flight.
Lilium is also in talks to secure budget loans with the help of the German and French governments, the latter of which is related to Lilium’s progress and the expansion of its commercial presence in France.
Lilium is one of several participants in the vertical take-off and landing (eVTOL) aircraft market that has attracted the attention of airlines and automakers.
Executives and analysts at the Farnborough Airshow stressed that the industry will have to overcome demanding technological and regulatory situations before it can attract passengers and achieve profitability, something that has not escaped some investors.
Lilium’s US-listed shares have fallen 21. 7% to 92 cents this year, while peers Archer Aviation and Joby Aviation are down 25. 73% and up 0. 45%, respectively.
Founded in 2015, Lilium is the regional transportation marketplace with a 250-kilometer (155-mile) diversity jet that can carry up to six passengers, unlike many competitors that lean primarily toward shorter trips between cities and suburbs.
Lilium aims to have its service commissioned in 2026.
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