German Government conducting due diligence on Lilium

The Federal Government of Germany and the Free State of Bavaria have requested the state development bank KfW in Frankfurt to begin due diligence on Lilium as part of the customary state support process. A statement from Lilium said: “Once the diligence is completed and results satisfactory, Lilium expects to receive guarantees from the Federal Government and the Free State of Bavaria as security for a KfW loan, the exact amount of which is yet to be determined”. Lilium CEO Klaus Rowe thanked those responsible in Berlin and Munich for their decision and the ""constructive cooperation over the last few weeks"", adding that he expects due diligence ""to be swift as transparency is a daily routine for us as a listed company"". “Electrification is in strong public interest as a contribution to the necessary decarbonisation of the industry,"" said Rowe. ""German government support is not only about creating a level playing field with the USA and China, but also about Germany signalling to the financial markets that innovations and new technologies are supported in Germany.”