Lilium N.V. (NASDAQ:LILM), developer of the first all-electric vertical take-off and landing ("eVTOL") jet, announced today that it has started production of the advanced, aviation grade battery packs that will power the Lilium Jet on its first piloted flight, targeted for end of 2024. This latest milestone represents a landmark in the development of the Lilium Jet and follows extensive testing of battery pack subcomponents from individual cell to stack level with a focus on performance, safety and regulatory conformity.

Lilium's unique, pioneering battery pack is comprised of lithium-ion cells with silicon-dominant anodes that will allow for higher energy, power, and fast-charging capabilities than graphite anode cells. Leading automakers such as Mercedes, Porsche, and GM plan to incorporate silicon anode technology into their premium electric vehicles. Lilium's battery packs are being designed to meet EASA's stringent aircraft safety requirements regarding shock resistance, heat resistance, containment, and redundancy. They are also being designed to deliver outstanding power and energy density to support a business model focused on regional, rather than urban, air mobility. Lilium has secured comprehensive intellectual property rights for its unique battery technology.

The Lilium Jet battery packs are being assembled at Lilium's purpose-built battery factory, located at Lilium's headquarters outside Munich, with the aid of new generation digital tools that enable process control, efficient data collection and traceability. Lilium has been supported in the design of the assembly line and initial production ramp up by suppliers with extensive experience in battery industrialization, especially in the automotive sector.