SHENZEN, China, Nov. 24, 2023 (GLOBE NEWSWIRE) -- Lilium (NASDAQ: LILM), developer of the first all-electric vertical take-off and landing (eVTOL) jet, and CITIC Offshore Helicopter Co., Ltd (COHC), China's sole helicopter port pilotage provider - today announced the signing of a Memorandum of Understanding ("MoU") that will allow the two companies to strategically collaborate on the establish of an eVTOL operation network in China, starting with the Greater Bay Area.
As part of the agreement, Lilium and COHC will work together to develop services in the region based on market demand, and eventually offer regular eVTOL services. This will initially commence in the Greater Bay Area, with additional planned service across the Guangdong-Hong Kong-Macao Greater Bay Area, Hainan Island, and Tianjin in the future.
By combining COHC's extensive experience in aviation services with Lilium's innovative eVTOL technology, this partnership is poised to redefine regional air mobility in the People's Republic of China. The news follows Lilium's partnership with other suppliers in the China region, including an agreement with Heli-Eastern and an MOU with the Bao'an District of Shenzhen municipality.
COHC and Lilium are committed to jointly facilitating the launch of this groundbreaking service in the Greater Bay Area. This includes strategically selecting production bases, conducting test flights, implementing after-sales service protocols, and identifying potential sites of interest and partners for vertiports.
A representative of COHC said: "We're looking forward to working with Lilium to build an eVTOL network in the Greater Bay Area and beyond. It's important for our customers to be able to travel quickly, sustainably, and in premium comfort-and with Lilium, we're excited to do just that."
Klaus Roewe CEO of Lilium commented: "The partnership highlights the shared aspirations of COHC and Lilium to create a sustainable and efficient aerial transportation system that addresses the growing demand for premium regional mobility solutions. China is expected to account for close to 25% of the eVTOL market and this announcement reaffirms our commitment to the region and desire to bring fast and sustainable travel to more people and to offer outstanding flight experiences for our customers."
Contact information for media
Meredith Bell
Vice President, External Communications
+41794325779
press@lilium.com
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, 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.
Lilium Forward Looking Statements
This press release contains certain forward-looking statements within the meaning of the 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 operate or intend to operate, (iii) the Lilium Group's agreement and related collaboration with CITIC Offshore Helicopter Co., Ltd. as described above the anticipated timing of the; (iv) 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. 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 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, 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 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.
