Lilium N.V. (NASDAQ: LILM), developer of the first all-electric
vertical take-off and landing (“eVTOL”) jet, announced today that
it has signed an agreement with mobility technology and industrial
leader DENSO, a Fortune 500 giant, for technical assistance in
optimizing production at scale of the Lilium Jet’s revolutionary
electric engine. DENSO, a leader in powertrain electrification and
the world’s second largest automotive parts provider by sales, will
support Lilium in developing equipment and tooling for an
efficient, scalable production ramp up and preparing automation for
high-volume production of the Lilium Jet engine and its subsystems.
Providing millions of critical parts each year
to some of the largest and most renowned global carmakers, DENSO
will be sharing nearly 75 years of expertise with Lilium to design
reliable, competitive, high-volume manufacturing processes. DENSO
is currently supplying the stator and rotor subsystems of the
Lilium Jet engine as part of its alliance with Honeywell, a tier
one aerospace supplier to Lilium.
Yves Yemsi, COO of Lilium, said: “We’re
delighted to be able to intensify our cooperation with DENSO and
draw on their wealth of experience as we move towards
industrializing the engine assembly. With DENSO’s support, we look
forward to creating and implementing scalable solutions for
high-volume production of the Lilium Jet engine.”
Koji Ishizuka, Senior Director Urban Air
Mobility at DENSO, remarked: “At DENSO, we aim to power the shift
towards safe, sustainable and seamless mobility for all. Through
our cooperation with Lilium, we see the potential to accelerate
this shift and welcome the opportunity to support the development
of large-scale sustainable regional air mobility.”
First engine build
In September, Lilium started assembly of the
first Lilium Jet electric engine at its dedicated facilities in
Wessling, Germany, with the first build now completed. In the next
phase, Lilium Jet engines will be integrated for further testing
into the aircraft propulsion mounting system, the unique flap
structure that forms the rear part of the wings and front canards.
The Lilium Jet e-motor has been designed to deliver
industry-leading power density of over 100kW from a system weighing
just over 4kg.
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, United Arab Emirates, 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 DENSO
DENSO is a €44.3 billion ($47.9 billion) global
mobility supplier that develops advanced technology and components
for nearly every vehicle make and model on the road today. With
manufacturing at its core, DENSO invests in about 200 facilities
around the world to produce electrification, powertrain, thermal,
mobility electronics, and advanced products, systems, and solutions
that are changing the way the world moves. The company’s nearly
165,000 employees are paving the way to a mobility future that
improves lives, eliminates traffic accidents, and preserves the
environment. Globally headquartered in Kariya, Japan, DENSO spent
around 9.0 percent of its global consolidated sales on research and
development in the fiscal year ending March 31, 2023.
In Europe, DENSO regional headquarters is
located in Amsterdam, the Netherlands. DENSO has 27 official group
companies located in 14 European countries and employs nearly
15,000 people across its European organization. DENSO Europe’s
consolidated revenue was €4.7 billion ($5.1 billion) for the fiscal
year ending March 31, 2023.
For more information about
DENSO, visit https://www.DENSO.com/global.
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 intend
to operates, and (iii) the Lilium Group’s partnership with DENSO,
including DENSO’s support of Lilium in the production of the Lilium
Jet engine and its subsystems as described herein. 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.
Lilium NV (NASDAQ:LILM)
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