Lilium N.V. Enhances InoBat Alliance for Upscaled Production of Lilium Jet Battery Cells

Lilium N.V. LILM, a pioneering firm in the field of air taxi services, has announced the expansion of its partnership with the advanced battery producer InoBat. This strategic move will pave the way for mass production of high-performance battery cells, essential for powering Lilium's innovative Jet aircraft.

Strategic Partnership Growth

The collaboration between LILM and InoBat is set to take a leap forward with the production of the Lilium Jet battery cells occurring at InoBat's Volta I and the upcoming Volta II plants, located in Voderady, Slovakia. The commencement of production is slated for early 2024 at the Volta I facility.

InoBat is prepping its Volta II plant to become the first gigafactory with a production capability of up to 4 gigawatt hours (GWh). This enhanced capacity is expected to meet the forecasted demand for Lilium's battery cells as the company prepares for the introduction of the Lilium Jet and aims to maintain a consistent supply for future needs.

Multiplying Supply Sources

This partnership is a testament to Lilium's vigorous strategy to have multiple sources for its cell production, ensuring diversification and reliability in its supply chain. Lilium's Chief Operating Officer, Yves Yemsi, expressed confidence and anticipation for moving towards high-volume production with InoBat. He emphasized the company's objective of securing multiple cell suppliers to back its aircraft program and guarantee a steady flow of battery cell production for the long term.

In stark contrast to the positive developments in its production capabilities, LILM's shares have experienced a downturn recently. On the latest trading day, shares took a dip by 5.77%, trading at $0.8103.

Lilium, InoBat, Partnership, Battery, Production, Jet, Gigafactory, Supply, Strategy, Shares