Source: Reuters
Date: July 10, 2024
Author: Alexander Huebner
Lilium secures order of 100 eVTOL jets
Summary: Lilium, the German air taxi startup, has secured a significant order from Saudi Arabian airline Saudia. The deal involves the purchase of 100 electric vertical takeoff and landing (eVTOL) jets, marking a substantial step forward for Lilium in the burgeoning air mobility market. This agreement is not only a milestone for Lilium but also a notable development in the aviation industry as it shifts towards more sustainable and innovative transportation solutions.
Saudia’s investment in Lilium’s eVTOL jets underscores the growing interest and confidence in electric air taxis as a viable mode of transportation. The deal is expected to enhance Saudia’s regional connectivity and offer a new, efficient travel option for its customers. Lilium’s eVTOL jets are designed to provide quick and eco-friendly travel, potentially transforming urban and regional air mobility.
For investors, this order represents a significant vote of confidence in Lilium’s technology and business model. The company’s ability to secure such a large order from a major airline suggests strong future growth potential. Investors should keep an eye on Lilium’s progress as it continues to develop its eVTOL technology and expand its market presence.
It would be one of the biggest orders for Lilium, which says it has 780 firm orders and letters of intent to date, including the plans with Saudia. The firm needs advance payments from customers to finalise the development of its flying taxi.
Key Points:
- Lilium secures an order for 100 eVTOL jets from Saudia.
- Deal highlights growing confidence in electric air taxis.
- Potential for enhanced regional connectivity and eco-friendly travel.
- Significant growth potential for Lilium in the air mobility market.
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