'CITIC Offshore Helicopter And Lilium Partner To Launch eVTOL Network In China's Greater Bay Area; COHC And Lilium To Jointly Launch Services In China Using Lilium's Revolutionary eVTOL Jet' - Lilum
Portfolio Pulse from Benzinga Newsdesk
Lilium (NASDAQ:LILM), an eVTOL jet developer, has signed a Memorandum of Understanding with CITIC Offshore Helicopter Co., Ltd (COHC) to establish an eVTOL operation network in China's Greater Bay Area. The partnership aims to develop regional air mobility services based on market demand, starting with the Greater Bay Area and potentially expanding to other regions in China. The collaboration will leverage COHC's aviation experience and Lilium's eVTOL technology to offer sustainable and efficient transportation solutions.
November 24, 2023 | 1:14 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Lilium's partnership with COHC to create an eVTOL network in China's Greater Bay Area could lead to increased market presence and potential revenue growth in a key market for eVTOL technology.
The MoU with COHC represents a strategic move into the Chinese market, which is expected to account for a significant portion of the eVTOL market. This partnership could lead to future revenue streams and market expansion for Lilium, positively impacting its stock price in the short term as investors may react favorably to the growth potential in a new market.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 100