LILM - Lilium inks deal for potential sale of 100 jets to Heli-Eastern develop air taxi services in China
2023-06-19 06:39:44 ET
Electric air taxi maker Lilium ( NASDAQ: LILM ) signed an agreement with Shenzhen Eastern General Aviation (Heli-Eastern), for potential sale of Lilium jets and developing electric vertical take-off and landing (eVTOL) services in China.
Under the agreement, Heli-Eastern — which operates in Greater Bay Area, Yangtze River Delta, and Beijing-Tianjin-Hebei Areas — plans to order 100 Lilium Jets.
In addition, the two companies will collaborate to identify potential sites and partners for Lilium's vertiports and other ground infrastructure.
After type-certification of the Lilium jet, Heli-Eastern will operate the aircraft in the region and provide crewing and maintenance services.
The companies noted that they will jointly develop eVTOL services across the Guangdong-Hong Kong-Macao Greater Bay Area.
Lilium has also signed an MOU with the Bao'an District of Shenzhen municipality for opening of a regional headquarters to represent the company in China and the Asia-Pacific region for sale of its jets.
Following the announcement, Lilium's order pipeline has increased to 745 Lilium Jets from multiple customers, according to the company.
"We see significant potential for Lilium’s eVTOL network in the Greater Bay Area, both to reach this important premium market, as well as to offer the sustainable, time-saving benefits of the Lilium Jet to as many people as possible," said Lilium CEO Klaus Roewe.
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Lilium inks deal for potential sale of 100 jets to Heli-Eastern, develop air taxi services in China