Lilium N.V. Enhances Collaboration with InoBat for Mass Production of Advanced Battery Cells

In a strategic advancement to bolster its battery cell production capabilities, Lilium N.V. LILM has recently announced the intensification of its ongoing partnership with the energy solutions provider InoBat. This collaboration is a critical step in setting up a sizable manufacturing framework capable of rolling out the high-performance battery cells required for the innovative Lilium Jet.

Lilium's Strengthened Alliance with InoBat

Lilium is on a steadfast path to revolutionize urban air mobility, and this recent development represents a significant enhancement of its partnership with InoBat. The aim is to construct Lilium Jet battery cells within InoBat's current Volta I plant and the anticipated Volta II facility located in Voderady, Slovakia. The progress at Volta I is poised to commence as early as 2024.

Scaling Production to Meet Future Demands

The Volta II factory is envisioned as InoBat's pioneering gigafactory with an estimated production capacity of up to 4 GWh. This is in alignment with the projected demand for battery cells necessary to power Lilium's fleet over the forthcoming years. The agreement also supports Lilium's strategy of sourcing from multiple suppliers to ascertain a stable and continuous supply of battery cells for the anticipated service launch of the Lilium Jet and for operational needs thereafter.

Executives Comment on the Partnership

Lilium's Chief Operating Officer, Yves Yemsi, shared his optimism about escalating production plans with InoBat, 'We are delighted to move ahead with InoBat towards high-volume production of Lilium Jet battery cells. Consistent with best practice and our stated strategy, we expect that multiple cell suppliers will support our aircraft program, with the aim to ensure a reliable volume production of battery cells for years to come.'

Market Response to the Announcement

The market has responded to this partnership extension with a fluctuation in LILM's stock value. As of the latest update, shares of Lilium N.V. have seen a dip of 5.77%, trading at $0.8103.

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