Lilium is edging closer in securing access to loan guarantees that will support work bringing its eVTOL aircraft to market, with Germany’s federal government and the state of Bavaria having commissioned state development bank KfW in Frankfurt to conduct due diligence on the company. Announcing the news on Wednesday, CEO Klaus Roewe said he anticipates a “swift process” with Lilium aiming for a secured loan of at least €100 million ($108 million).
In late April, Munich-based Lilium and another German eVTOL developer Volocopter were told that Bavarian officials had stalled approval for loan guarantees. At the time, this prevented Germany’s Ministry for Digital and Transport from giving the green light for its share of the funding.
Volocopter, which is based in Baden-Württemberg, turned to Bavaria for assistance after its home state refused to guarantee loans. Earlier this year, Volocopter went through a similar due diligence process resulting in positive feedback to the German government from external auditors, according to the company.
“We would like to thank those responsible in Berlin and Munich for their decision and the constructive cooperation over the last few weeks,” Roewe commented. “We expect due diligence to be swift as transparency is a daily routine for us as a listed company.”
On Monday, Lilium confirmed it is negotiating with the French government in securing subsidies and loan guarantees that would fund plans to establish high-volume production facilities for the Lilium Jet in France. The company is evaluating sites in locations such as the Nouvelle Aquitaine region as it prepares to start series production of four- and six-passenger versions of the aircraft in 2026.
Lilium is now building the second production-conforming example of the aircraft, which features 30 ducted fan electric motors installed in its wing and canard. It aims to start flight testing this year and has reported firm and provisional sales commitments for 780 Lilium Jets from operators in the U.S., South America, Europe, Asia, and the Middle East.
Last week, Germany’s Digital and Transport department approved around $10 million in funding for the Balis 2.0 project to develop hydrogen-powered regional airliners. The program, which is led by German companies H2Fly and Diehl Aerospace, is aiming to start ground testing 350-kilowatt fuel cells in 2025.