Lilium reports significant progress in Q1 2024 Shareholder Letter

Core Insights - Lilium is progressing towards key milestones in the development of its Lilium Jet, with the start of production for aviation-grade battery packs achieved in April 2024 and the first manned flight targeted for the end of this year [2][4][8] - The company aims to create a sustainable and accessible mode of high-speed regional transportation, focusing on zero operating emissions and high performance [6][8] - Lilium has a growing commercial order pipeline with over 780 aircraft, including firm orders and memoranda of understanding, indicating strong market interest [8] Company Developments - The production of the first Lilium Jets has significantly advanced, with battery pack production starting at a dedicated facility [8] - Testing is currently underway for the first manned flight and certification of the Lilium Jet [8] - Lilium has successfully concluded a fundraising round, securing $114 million in gross proceeds [8] Market Expansion - The company is expanding its support network in key markets, partnering with Aéroports de la Côte d'Azur and UrbanV for operations in the French Riviera, and with Atlantic Aviation for US-wide operations [8] - Lilium is in advanced discussions with the French government regarding a government guarantee-backed loan, and is also starting a due diligence process for an intended loan with guarantees from the German Federal Government and the State of Bavaria [8]