MUNICH, Germany - Lilium N.V. (NASDAQ: LILM), an innovator in electric flight, has initiated production of its high-tech battery packs, which are anticipated to power the first manned flight of the all-electric Lilium Jet by the end of 2024. The company's move to battery production marks a significant step in the development of the Lilium Jet, following years of rigorous testing on battery components to ensure performance, safety, and compliance with aviation regulations.
The battery technology, featuring lithium-ion cells with silicon-dominant anodes, promises higher energy and power, as well as rapid charging capabilities compared to traditional graphite anode cells. This technology is also being adopted by leading automotive manufacturers for their premium electric vehicles.
Lilium's battery packs are designed to meet the demanding safety standards of the European Union Aviation Safety Agency (EASA), including shock and heat resistance, containment, and redundancy. These standards are critical for the certification of the aircraft, which aims to offer regional air mobility solutions.
Each Lilium Jet will be equipped with ten independent battery packs to ensure safety and redundancy. These packs are assembled at Lilium’s dedicated battery facility near Munich, utilizing state-of-the-art digital tools for process control and data management.
Yves Yemsi, COO of Lilium, expressed pride in reaching the production phase and emphasized the centrality of battery technology in achieving sustainable regional air mobility. The first units produced will undergo verification testing in preparation for the inaugural piloted flight.
Lilium has established a comprehensive portfolio of intellectual property rights surrounding its unique battery technology, positioning the company at the forefront of electric aviation innovation.
This article is based on a press release statement.
InvestingPro Insights
As Lilium N.V. (NASDAQ: LILM) takes a significant leap into battery production for its pioneering electric jet, the financial metrics and analyst insights from InvestingPro paint a detailed picture of the company's current market standing. With a Market Cap of approximately $458.12 million USD, the company is navigating through a challenging financial landscape. According to InvestingPro, the P/E Ratio as of the last twelve months ending Q4 2023 stands at -1.09, underscoring the company's lack of profitability during this period.
The Price / Book ratio, another critical metric, is at 11.38, suggesting that the stock is trading at a premium relative to the company's book value. This could be reflective of investor expectations for the company's future growth or the unique technology it brings to the market. Despite these figures, Lilium has experienced a 1 Year Price Total Return of 86.25%, indicating a strong performance over the past year.
InvestingPro Tips highlight that Lilium holds more cash than debt, which is a positive sign for potential investors. However, the company is also quickly burning through cash and suffers from weak gross profit margins. Additionally, the stock price has shown considerable volatility, and analysts do not expect the company to be profitable this year. For those considering an investment in Lilium, these factors are crucial to keep in mind.
InvestingPro offers a wealth of additional tips on Lilium, with a total of 13 tips available, including insights into the company's short-term obligations, valuation implications, and historical price movements. Interested readers can find these tips at InvestingPro, and can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, further enriching their investment research with valuable, real-time data.
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