Lilium Extends Partnership For Production Of Lilium Jet Battery Cells
Portfolio Pulse from Lekha Gupta
Lilium N.V. (NASDAQ:LILM) has announced the extension of its partnership with InoBat for the production of high-performance battery cells for the Lilium Jet. The cells will be produced at InoBat's Volta I and upcoming Volta II plants in Slovakia, with production starting in early 2024. The Volta II plant will be a gigafactory with a capacity of up to 4 GWh, aligning with Lilium's future battery cell needs. This partnership is part of Lilium's strategy to secure multiple sources for cell production to ensure a reliable supply for the Lilium Jet's service entry and beyond. Despite the positive development, LILM shares dropped by 5.77% to $0.8103.
November 10, 2023 | 4:35 pm
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Lilium N.V. extends its partnership with InoBat for the production of battery cells for the Lilium Jet, with production starting in 2024. Despite the strategic move, LILM shares fell by 5.77%.
The extension of the partnership with InoBat is a strategic move for Lilium, aiming to secure a stable supply of battery cells for the Lilium Jet. However, the immediate market reaction was negative, as reflected by the 5.77% drop in share price. This could be due to investor concerns over the costs or feasibility of the project, or broader market conditions affecting investor sentiment. The news is highly relevant and important for Lilium as it pertains to their core product's production strategy, and the confidence in the analysis is high given the clear market reaction.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100