MUNICH, Germany - Lilium N.V. (NASDAQ: LILM), a pioneer in electric air mobility, has initiated the installation of a new assembly line for the propulsion units of its all-electric vertical take-off and landing (eVTOL) jet at its Wessling facilities. The first prototype propulsion units are anticipated to be produced in the second quarter of 2024, a significant step in the Lilium Jet program.
This development follows the commencement of the Lilium Jet production in late 2023, signaling progress in the company's move towards industrialization. Lilium has collaborated with Schnaithmann Maschinenbau GmbH, a German automation and robotics specialist, to design and construct the propulsion assembly line.
The propulsion units are integral to the Lilium Jet's performance, featuring electric engines that provide thrust vector control for maneuvering during various flight phases. The propulsion system is expected to offer advantages in terms of payload, aerodynamic efficiency, and noise reduction.
Lilium's Senior Vice President of Manufacturing, Jan Nowacki, expressed enthusiasm for the advancement towards serial production of the jet propulsion system. He emphasized the importance of the electric jet engine as a core technology for the aircraft's performance and the secured intellectual property and supplier network.
Gerd Maier from Schnaithmann highlighted the company's pride in contributing to the industrialization of the Lilium Jet. He noted Schnaithmann's nearly four decades of experience in automation technology and its role in supporting Lilium's scale-up for high-volume production.
The Lilium Jet is designed to offer a sustainable and accessible mode of high-speed, regional transportation with zero operating emissions. The company has garnered interest and announced sales in various global markets and is supported by a team of over 950 individuals, including around 500 aerospace engineers.
The information in this article is based on a press release statement.
InvestingPro Insights
In the face of Lilium N.V.'s (NASDAQ: LILM) ambitious advancements in electric air mobility, InvestingPro data provides a deeper look into the company's financial health and market performance. As of the latest metrics, Lilium holds a market capitalization of $465.55 million USD, reflecting investor sentiment and the scale of the company in the competitive aerospace sector.
Despite the strides in technology and production, Lilium's financials indicate some challenges. The company's operating income, adjusted for the last twelve months as of Q2 2023, stands at a loss of $295.97 million USD, with a corresponding negative EBITDA of $289.82 million USD. These figures underscore the significant investment and expenses incurred in the development of their eVTOL jet technology. Moreover, the company's stock price has experienced volatility, as indicated by a 14.92% decline in the 1-year price total return and a 25.02% drop year-to-date.
Two critical InvestingPro Tips that investors should consider include Lilium's higher short-term obligations compared to its liquid assets and the lack of profitability anticipated by analysts for the current year. These insights suggest that while Lilium is pioneering in its field, the financial road ahead may be challenging.
For those interested in a more comprehensive analysis, InvestingPro offers additional tips on Lilium N.V., which can be found at https://www.investing.com/pro/LILM. These insights can help investors make more informed decisions, especially in the context of emerging technologies with substantial capital requirements. To access these insights and more, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
With 9 additional InvestingPro Tips available, investors can gain a more nuanced understanding of Lilium's financial position and strategic outlook. These tips delve into aspects such as cash burn rate, gross profit margins, and stock price volatility, all of which are crucial for evaluating the company's long-term viability and investment potential.
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