The region, in particular the United Arab Emirates (UAE), is a favourable climate for the market with government supporting a transition to a more sustainable future, according to ArcosJet. The firm made the announce during this week’s Corporate Jet Investor Dubai 2024. ArcosJet is the exclusive deal to handle private sales in the UAE, Israel and Cyprus of German firm Lilium’s eVTOL aircraft which is currently under development.

Mikhail Alenkin (pictured centre), ArcosJet CEO and founder, said the UAE today is the world’s main hub for innovation, finance, transportation and finding solutions to environmental issues. The current economic conditions, the concentration of HNWIs, the high level of urbanisation and, of course, the interest in advanced sustainable technologies are the key drivers for the eVTOL market development in the region, he said.

“ArcosJet sees eVTOLs in general, and the Lilium Jet in particular, as a very effective tool for creating a modern, high-tech and sustainable system of advanced air mobility and last mile transportation in the region. Today, the Lilium Jet is one of the most remarkable and significantly developed programs when it comes to eVTOLs. The technical solutions, scope of work and goals are very impressive and convincing.” added Alenkin.

ArcosJet anticipates that eVTOLs will initially emerge in the UAE as a supplement for existing helicopter services, which are currently considered underdeveloped. The firm is also investing in developing an ecosystem for the operation and maintenance of helicopters and eVTOLs in the UAE.

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The agreement includes a commitment fee payment to Lilium as ArcosJet becomes the German OEM’s first reseller in the Middle East and its fifth dealer globally. The two firms will announce further details of the partnership at this year’s Dubai Airshow, which is taking place next month.

Mikhail Alenkin, ArcosJet founder and CEO said: “At ArcosJet, we appreciate Lilium’s mission as we see tremendous potential in the emerging eVTOL market — especially for jet-powered aircraft, and we are grateful that Lilium is partnering with us. We are sure that combining our experience in selling conventional aircraft with the economic and sociodemographic characteristics of UAE, Israel, and the Republic of Cyprus can result in the region becoming a leader in the sales and operation of the revolutionary Lilium Jet.”

Lilium’s Pioneer Edition is the first planned model of the Lilium Jet and, if and when certified, will  carry four passengers an estimated non-stop flight range of 175km at speeds of 250kph. The first manned flight for the type-conforming aircraft is scheduled for late 2024, with type certification expected in late 2025.

Sebastien Borel, chief commercial officer at Lilium said: “The Middle East offers tremendous opportunity for eVTOLs and we are proud to add a reliable and experienced partner to sell and operate the Lilium Jet in the region. ArcosJet has an impressive portfolio of successful deals, profound knowledge within aircraft fleet management and a huge network of industry connections to help drive firm orders of our eVTOL jet. A new era of sustainable aviation is coming and we are proud to be blazing the trail here alongside our new partners who support our aspirations toward new technologies and markets.”

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eVolare will be Lilium’s launch operator in the UK. The firm will allow Lilium Jets to operate from its Oxford base, run a maintenance service centre and invest in landing infrastructure for Lilium’s UK network. eVolare has made pre-delivery payments of up to 50% of the total value for the aircraft.

Dustin Dryden, founder of eVolare said: “The revolutionary technology of the Lilium Pioneer Edition Jet coupled with its unique, premium cabin, made it a natural choice for us when looking to meet the future demands of an environmental conscious market. For all our customers, we can offer point to point time-saving travels in a sustainable, safe manner while introducing some incredibly exciting innovation to the UK market.” 

Lilium’s Pioneer Edition was formally launched this week too and comes with a service, support, and training package, as well as customisable options for the cabin configuration. 

Klaus Roewe, CEO of Lilium said: “We are delighted to launch our Pioneer Edition Jet with eVolare. Not only is the demand for sustainable regional air mobility in London high but eVolare’s experience serving customers with business jets and helicopters operations is a great fit to our commercial first phase: getting the premium segment to adopt our aircraft while preparing the entire ecosystem for a larger market. eVolare’s visionary approach to sustainable air mobility also makes them the perfect partner for the United Kingdom.”

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eVTOL developer, Lilium is being investigated by at least five law firms following claims it and “certain employees” engaged in “securities fraud or other unlawful business practices”.

On March 14, 2022, Iceberg Research published a report: “Lilium NV – The Losing Horse in the eVTOL Race” .

Iceberg’s report found, among other issues, that experts have raised doubts about the viability of the Lilium Jet reaching its objective of flying up to 155 miles. Citing “its configuration of 36 ducted fans (recently reduced to 30) that devour power during takeoff and landing (hovering), and leaves little power for actual flight.”

The report also noted that Lilium promises its jet has access to batteries with energy density of 320-330 Wh/kg. However, a sources it relies on to show these batteries are within reach is a 34.8% Lilium-owned associated firm, Zenlabs Energy.

The report also noted that Lilium’s CEO “had no meaningful professional aerospace experience before starting Lilium in 2015” and estimated that Lilium has about 18 months before its cash runs dry.

Lilium’s stock price fell $1.25 per share, or 33.88%, to close at $2.44 per share on March 14, 2022. It then bottomed out at $2.28 on Tuesday morning.

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“This investment is a tremendously important step for Lilium as it enables us to make the five-seat jet a reality,” said Daniel Wiegand, co-founder and CEO. “This is the next stage in our rapid evolution from an idea to the production of a commercially successful aircraft that will revolutionise the way we travel in and around the world’s cities. It makes Lilium one of the best funded electric aircraft projects in the world.”

The Series B investors comprised WeChat owner Tencent, LGT, Atomico, and Obvious Ventures, a private equity firm co-founded by Ev Williams, former CEO and co-founder of Twitter. Atomico, which was launched by Skype co-founder Niklas Zennström, also invested in the Series A round.

The company has now raised more than $100 million in equity. Freigeist (formerly e42) was seed investor.

Lilium plans to use the money to create a five-seat prototype and add to its 70-person team. Recent hires have come from Airbus and Tesla. “We are continuing to recruit the very brightest and best global talent in aeronautical engineering, physics, electric propulsion and computer science to join us on this extraordinary aviation journey where the only limits are the laws of physics,” says Wiegand.

The company says that its Lilium Jet will be able to carry five people and travel at up to 300 km per hour for one hour. It says that short flights will cost the same amount as a taxi and that customers will book flights using an app.

“Transportation technologies play a fundamental role in structuring our everyday lives. Lilium’s electric powered eVTOL aircraft offers new mobility options that can benefit people around the world. From under-developed regions with poor road infrastructure, to the developed world with traffic congestion and sprawl, new possibilities emerge when convenient daily flight becomes an option for all of us,” says David Wallerstein, Tencent’s chief exploration officer. “Lilium offers a substantial and environmentally-friendly transportation breakthrough for humanity.”

Niklas Zennstrom, CEO and founding partner at Atomico, added: “Lilium has already demonstrated its leadership in this new eVTOL industry and its once-in-a-generation transformative technology will have a seismic, positive impact on the world for generations to come. Now, with this latest investment round, Lilium has the capital and resources to speed ahead with the development of a commercially successful commuter aircraft that will transform the way we travel and help to solve some of the great challenges of our time.”

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