Lilium will reportedly invest €400m in a new factory and consequently generate around 850 jobs. KL1 has earmarked Blanquefort, which is close to Bordeaux, for its €300m site. According to Reuters, the KL1 investment will create 200 new jobs. The location of the new Lilium plant, which will manufacture electric jet aircraft, has not yet been identified, but it will be in the Nouvelle-Aquitaine region.

This announcement comes ahead of the country’s ‘Choose France’ business conference, an annual event that aims to lure foreign investors. French President Emmanuel Macron is set to open this year’s summit on 13 May 2024. Based on Business Standard data, Macron said that the country will attract foreign investments totalling approximately €15bn in 2024. Le Maire stated:

Choose France brings in capital, Choose France brings in new technologies, Choose France helps us plug holes in gaps on certain value chains.

Lilium appointed Johan Malmqvist as its chief financial officer in April 2024. According to GlobeNewswire, Lilium, which is the world-first developer of an all-electric vertical take-off and landing jet (eVTOL), will reveal its full-scale Lilium Jet model in Geneva, Switzerland, during the EBACE2024 aviation and advanced air mobility event.

Lilium ended last week’s trading at 3.57% in the red. The company currently has a market cap of $571.16m on the Nasdaq.

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