"...independent tests have shown that our cell technology is
on track to deliver the energy, power and charging cycles we
require," it said.
Lilium is competing in a crowded market for electric
Vertical Take-Off and Landing (eVTOL) vehicles, hoping to
replace road trips or short hops by aircraft or helicopters.
It plans a cruise speed of 250 km or 155 miles per hour and
says its system of tilting electric turbofans embedded in the
wings will be quieter than open rotors from rivals.
But the challenge of securing certification and funding
innovations such as batteries weigh heavily on the new sector.
Lilium shares have plunged some 89% since the start of 2022.
In November, Lilium raised $119 million from existing and
new shareholders and partners such as Honeywell. At the end of
2022 it had liquidity of 206 million euros.
Headed by former Airbus executive Klaus Roewe, Lilium is
initially targeting contracts with large corporations and
private individuals. It says it has 640 potential orders.
In a recent interview at Oberpfaffenhofen industrial airport
outside Munich, once used to sustain the Berlin Airlift and now
dotted with research labs and abandoned Cold War testing
hangars, Roewe defended the unusual hinged-engine design.
"I think what is different in Lilium, compared to others, is
that we haven't only taken something that more or less existed
like a big drone or helicopter type of design," he said.
"You can make your engine become a lifting device, not only
a fast device. If somebody said how do you design an
unconstrained aircraft, it would look like that. Nothing else
moves and it's all in the software."
That, he said, makes Lilium's concept closer to the
uncluttered design of a Tesla than a helicopter. Lilium is also
aiming for longer regional routes than urban air taxis.
"Complexity should not be in the physical parts but should
always be in the software part, because that's the one you can
change the fastest," he said.
Critics say the more radical design may be harder and take
longer to certify than other eVTOL models.
Updated research from two academics who had previously
questioned Lilium's battery plans suggests the design is "in the
realm of possibility" but could face challenges in execution,
industry publication The Air Current reported last November.
(Reporting by Tim Hepher; Editing by David Gregorio)
By Tim Hepher
PARIS, March 28 (Reuters) - German air taxi developer
Lilium said on Tuesday it was in "active and
constructive" discussions for new funding as it ramps up
battery-cell production.
In a shareholder letter, the company also defended battery
technology which has come under scrutiny because of the extra
power required compared to other eVTOL projects.
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.