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    LILM   NL0015000F41

LILIUM N.V.

(LILM)
  Report
Delayed Quote. Delayed Nasdaq - 11/26 01:00:00 pm
7.87 USD   -1.87%
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Lilium N : ABB and Lilium team up to revolutionize charging infrastructure for regional air travel

10/13/2021 | 02:01am EST
  • ABB E-mobility to develop and supply MegaWatt fast charging infrastructure for the all-electric 7-Seater Lilium Jet
  • Approximately 30 minutes to fully charge batteries
  • Will support the MCS charging standard for zero emission aviation

MUNICH and ZURICH, Oct. 13, 2021 (GLOBE NEWSWIRE) -- ABB E-mobility and Lilium N.V. (NASDAQ: LILM) (“Lilium”), positioned to be a global leader in regional electric air mobility, have announced plans for ABB to provide the charging infrastructure for Lilium’s high speed regional air network, scheduled for commercial launch in 2024. Lilium has announced planned launch networks in Florida, Germany, and Brazil. As part of the agreement, ABB will develop, test and supply the MegaWatt fast charging infrastructure necessary for the quick turnaround times needed for electric aviation. The ABB charging points are designed to be capable of fully charging batteries in approximately 30 minutes, and charging up to 80% in 15 minutes, enabling the 20-25 flights per aircraft per day planned across Lilium’s global vertiport network. The initial range of a 7-Seater Lilium Jet is expected to be 155 miles with a cruise speed of 175mph.

“Combining Lilium’s mission to grow sustainable aviation with ABB’s global market expertise and leadership in e-mobility and charging infrastructure is a win for the environment and a win for passengers,” said Frank Muehlon, President of ABB’s E-mobility Division. “Moreover, we see this planned partnership as an important commitment to all relevant charging standards that are adopted by multiple electric ‘vehicle’ manufacturers. By supporting the new MegaWatt charging standard, ABB E-mobility is paving the way for the electrification of all modes of transport, from cars and trucks to marine vessels, mining vehicles, and now, aviation.”

In 2019, global CO₂ emissions from all commercial air operations totaled 918 million tons, an increase of 29 percent since 2013¹. With passenger transport responsible for 780 million tons, or 85 percent, of the total emissions from air operations, decarbonization of transport is a vital step towards combatting climate change and building a more sustainable future.

Daniel Wiegand, CEO and Co-Founder of Lilium, added, “We believe that the decarbonization of aviation is both urgent and inevitable. Making sure we have the right charging infrastructure will play a crucial role in enabling our high-speed regional air network by allowing quick and efficient charging. We are proud to be working with ABB, who bring decades of experience in electrification and software, to set the charging industry standard for electric aviation.”

The regional air network will be made up of a series of vertiports, which will have multiple parking bays and high-power charging points. The MegaWatt Charging System (MCS), the infrastructure to be developed under this planned partnership, will allow direct current (DC) charging of up to 1000 kW and can also be used for electric heavy-duty vehicles, such as trucks and buses. In the development of the MCS, ABB and Lilium plan to adhere to the relevant standards that support interoperability.

CharIN, the organization that promotes interoperability based on the Combined Charging System (CCS) as the global standard for charging vehicles of all kinds, initiated the Task Force “Megawatt Charging System” in 2018 to prepare international charging standard for commercial vehicle high power charging.

The partnership remains subject to the parties finalizing commercial terms and definitive documentation relating thereto.

¹https://theicct.org/publications/co2-emissions-commercial-aviation-2020

About ABB

ABB (ABBN: SIX Swiss Ex) is a leading global technology company that energizes the transformation of society and industry to achieve a more productive, sustainable future. By connecting software to its electrification, robotics, automation and motion portfolio, ABB pushes the boundaries of technology to drive performance to new levels. With a history of excellence stretching back more than 130 years, ABB’s success is driven by about 105,000 talented employees in over 100 countries. www.abb.com

About Lilium
Lilium (NASDAQ: LILM) is creating a sustainable and accessible mode of high-speed, regional transportation for people and goods. Using the 7-Seater Lilium Jet, an all-electric vertical take-off and landing jet, offering leading capacity, low noise and high performance with zero operating emissions, Lilium is accelerating the decarbonization of air travel. Working with aerospace, technology and infrastructure leaders, and with planned launch networks announced in Germany, the United States and Brazil, commercial operations are projected to begin in 2024. Lilium’s 700+ strong team includes approximately 400 aerospace engineers and a leadership team responsible for delivering some of the most successful aircraft in aviation history. Founded in 2015, Lilium’s headquarters and manufacturing facilities are in Munich, Germany, with teams based across Europe and the U.S. To learn more, visit www.lilium.com.

Forward-Looking Statements:
This press release contains certain forward-looking statements within the meaning of the federal securities laws, including, but not limited to, statements regarding Lilium N.V.’s proposed business and business model, the markets and industry in which Lilium N.V. and its subsidiaries (collectively, the “Lilium Group”) intend to operate and the anticipated timing of the commercialization and launch of the Lilium Group’s business. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Such statements are based on management’s belief or interpretation of information currently available. Forward-looking statements are predictions, projections and other statements about future events that are based on management’s current expectations with respect to future events and are based on assumptions and subject to risk and uncertainties and subject to change at any time. The Lilium Group will operate in a rapidly changing emerging industry. New risks emerge every day. Given these risks and uncertainties, you should not rely on or place undue reliance on these forward-looking statements. Actual events or results may differ materially from those contained in the projections or forward-looking statements. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including, but not limited to, the following risks: (i) the impact of COVID19 on Lilium’s business or the business combination; (ii) the Lilium Group’s ability to realize the anticipated benefits of its recent business combination with Qell Acquisition Corp.; (iii) the Lilium Group’s ability to implement business plans, operating models, forecasts and other expectations and identify and realize additional business opportunities; (iv) the Lilium Group’s and its partners’ inability to achieve anticipated specifications for the Lilium jet and any related infrastructure, (v) the failure of the Lilium Group and its current and future business partners to successfully develop and commercialize the Lilium Group’s business or significant delays in its ability to do so and (vi) the Lilium Group’s inability to secure or protect its intellectual property. The foregoing list of factors is not exhaustive. Forward-looking statements speak only as of the date they are made. You are cautioned not to put undue reliance on forward-looking statements, and the Lilium Group assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise. A further list and description of risks, uncertainties and other matters can be found in the section titled “Risk Factors” in our filings with the U.S. Securities and Exchange Commission, all of which are available at www.sec.gov. All forward-looking statements attributable to Lilium or any person acting on its behalf are expressly qualified in their entirety by this cautionary statement.

For more information please contact:

Sarah Perrins, ABB
Media Relations Manager
Electrification business
E-mail: sarah.perrins@gb.abb.com
 Meredith Bell, Lilium
+41 79 432 57 79
meredith.bell@lilium.com
press@lilium.com

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Financials (USD)
Sales 2021 - - -
Net income 2021 -157 M - -
Net cash 2021 348 M - -
P/E ratio 2021 -9,02x
Yield 2021 -
Capitalization 2 233 M 2 233 M -
EV / Sales 2021 -
EV / Sales 2022 -
Nbr of Employees 922
Free-Float 70,0%
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Number of Analysts 4
Last Close Price 7,87 $
Average target price 15,91 $
Spread / Average Target 102%
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Managers and Directors
Daniel Wiegand Chief Executive Officer & Executive Director
Geoffrey Richardson Chief Financial Officer
Thomas Enders Chairman
Alastair McIntosh Chief Technology Officer
Yves Yemsi Chief Operating Officer
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