Lilium Supports NYC EDC’s Decision to Seek Agnostic Operator for Downtown Manhattan Heliport & AAM’s Inclusion; Heliport will Serve as Key Site in Northeast Corridor Regional Network for Lilium Jet
Lilium N.V. supports NYC's efforts to accommodate eVTOL operations by selecting an agnostic heliport operator at the Downtown Manhattan Heliport. The decision is expected to drive economic benefits across the greater NYC metropolitan area. Lilium commends NYCEDC for its multifaceted approach, emphasizing the importance of having an agnostic operator for public assets. The company's go-to-market strategy focuses on diverse revenue streams and open access to aviation facilities. New York's regional air mobility potential is highlighted, with Lilium aiming to connect the entire Northeast Corridor with sustainable transportation options.
The announcement by Lilium N.V. regarding the New York City Economic Development Corporation's (NYCEDC) decision to appoint an agnostic operator for the Downtown Manhattan Heliport is a strategic development for the advanced air mobility (AAM) sector. This move facilitates a more inclusive and competitive environment for eVTOL operators, potentially accelerating the integration of AAM into urban infrastructures. The decision aligns with Lilium's business model of diversifying revenue streams through the sale of its Lilium Jets for various applications, including private, premium and shuttle operations.
From an aerospace perspective, the adoption of an agnostic approach to heliport operations is significant. It removes barriers to entry for new technologies, fostering innovation and competition. For Lilium, this could translate into increased market penetration and a stronger position within the emerging RAM market. The potential economic impact on the greater NYC metropolitan area could be substantial, considering the expected efficiencies and time savings associated with AAM. However, challenges such as regulatory hurdles, public acceptance and the technical viability of achieving the planned launch ranges must be navigated for successful commercialization.
The integration of eVTOLs into New York City's transportation infrastructure, as supported by NYCEDC's open approach to heliport operations, represents a transformative shift in urban mobility. The potential for eVTOLs to connect the city with the broader Northeast Corridor could redefine regional connectivity, offering a sustainable alternative to conventional ground transportation. This could lead to reduced traffic congestion and associated environmental benefits.
However, the urban planning implications are complex. The establishment of vertiports must be carefully considered within the city's dense and dynamic landscape. Issues such as land use, noise pollution and the visual impact of vertiports will require thorough assessment and community engagement. The economic benefits touted by Lilium, while promising, will need to be weighed against these urban planning challenges. The success of this initiative will largely depend on the ability to harmonize AAM infrastructure with existing urban systems and the public's receptiveness to the integration of this new mode of transportation.
The environmental implications of adopting eVTOL technology in one of the world's largest metropolitan areas are noteworthy. Lilium's all-electric Lilium Jet represents a step towards reducing carbon emissions and mitigating the environmental impact of urban transportation. The shift towards electric propulsion in aviation, particularly for short-haul regional travel, aligns with broader environmental goals and could serve as a model for sustainable transportation solutions.
However, the long-term environmental benefits will depend on the energy sources used to charge the eVTOLs and the scalability of battery technology. While the immediate reduction in fossil fuel consumption is a clear advantage, the overall environmental impact must consider the lifecycle emissions of the aircraft and the sustainability of the electricity grid supporting them. Stakeholders should remain cognizant of these factors when evaluating the potential environmental advantages of eVTOL technology.
03/07/2024 - 07:30 AM
Lilium celebrates NYC’s inclusion of all advanced air mobility capabilities and commitment to have an agnostic operator run the heliport Downtown Manhattan heliport to play key role in planned future Northeast Corridor regional network for planned operators of Lilium Jets Decision to accept a wide range of aircraft and use cases is expected to drive economic benefits across the greater NYC metropolitan area NEW YORK, March 07, 2024 (GLOBE NEWSWIRE) -- Lilium N.V. (NASDAQ:LILM), developer of the first all-electric vertical take-off and landing (“eVTOL”) jet and global pioneer in Regional Air Mobility (RAM), today announced its support for the New York City Economic Development Corporation’s (NYCEDC) efforts to accommodate eVTOL operations by choosing an agnostic heliport operator who will serve a wide range of aircraft and advanced air mobility (AAM) use cases at the Downtown Manhattan Heliport. The Downtown Manhattan Heliport, located near Battery Park on Pier 6, along the East River, will play a key role in the planned future Northeast Corridor regional network for planned operators of the Lilium Jet.
Recently, NYCEDC closed their Request for Proposals (RFP) window for firms with heliport, airport, vertiport, logistics, or hub management expertise to operate a future Downtown Manhattan Heliport in Lower Manhattan. NYCEDC will act as NYC’s administrator in advancing a concession agreement. Lilium has relationships with various infrastructure partners globally who are vying to operate at this vertiport, which Lilium believes will ensure compatibility for the Lilium Jet at the Downtown Manhattan Heliport.
Importance for Agnostic Public Assets
Lilium’s planned commercialization approach focuses on being an OEM with aftermarket support and services while selling to various individuals and companies for private, premium and shuttle operations. “Lilium’s go-to-market strategy allows for a diverse revenue stream and is predicated on aviation facilities in the U.S., especially those owned by public entities, being open to all types of aircraft,” said Sebastien Borel, Chief Commercial Officer at Lilium. “NYCEDC’s decision to require a heliport operator that accommodates a wide range of aircraft supports this approach.”
New York Poised for Regional Air Mobility
Lilium is the only major eVTOL manufacturer with planned capabilities that would provide for true regional air mobility connections. The potential of eVTOLs for NYC is creating sustainable regional connectivity with the entire Northeast Corridor. Lilium believes this promise is realized with the Lilium Jet, with a planned launch range that can reach Philadelphia, Atlantic City and the Hamptons, and as battery technology improves, connect downtown NYC to Baltimore, Boston, Martha’s Vineyard and beyond.
Lilium will continue working with NYC officials, potential vertiport operators and planned operators of the Lilium Jet to support this project. The Northeast Corridor regional network will form part of Lilium’s vision of bringing regional air mobility to locations across the globe.
Contact information for media:
Meredith Bellpress@lilium.com
Contact information for investors:
Rama Bondadainvestors@lilium.com
About Lilium
Forward Looking Statements:
This press release contains certain forward-looking statements within the meaning of the U.S. federal securities laws, including, but not limited to, statements regarding (i) Lilium N.V.’s and its subsidiaries (collectively, the “Lilium Group”) proposed business and business model, (ii) the markets and industry in which the Lilium Group operates or intends to operate, (iii) the Lilium Group’s expectations with respect to the commercial adoption of AAM in the Greater New York City Area and the Northeast United States, and (iv) the Lilium Group’s interactions with infrastructure partners and planned operators of the Lilium Jet. These forward-looking statements generally are identified by the words “anticipate,” “believe,” “could,” “expect,” “estimate,” “future,” “intend,” “may,” “on track,” “plan,” “project,” “should,” “strategy,” “will,” “would” and similar expressions. Forward-looking statements are predictions, projections, and other statements about future events that are based on management’s current expectations with respect to future events and are based on assumptions and are subject to risk and uncertainties that are subject to change at any time. Actual events or results may differ materially from those contained in the forward-looking statements. Factors that could cause actual future events to differ materially from the forward-looking statements in this press release include those risks and uncertainties discussed in Lilium’s filings with the U.S. Securities and Exchange Commission (the “SEC”), including in the section titled “Risk Factors” in our Annual Report on Form 20-F for the year ended December 31, 2022, on file with the SEC, and similarly titled sections in Lilium’s other SEC filings, all of which are available at www.sec.gov. Forward-looking statements speak only as of the date they are made. You are cautioned not to put undue reliance on forward-looking statements, and Lilium assumes no obligation to, and does not intend to, update, or revise these forward-looking statements, whether as a result of new information, future events or otherwise.
What is Lilium N.V.'s stance on NYC's efforts regarding eVTOL operations?
Lilium N.V. supports NYC's efforts by endorsing an agnostic heliport operator at the Downtown Manhattan Heliport.
Where is the Downtown Manhattan Heliport located?
The Downtown Manhattan Heliport is situated near Battery Park on Pier 6, along the East River.
What is the expected impact of selecting an agnostic heliport operator?
The decision is anticipated to drive economic benefits across the greater NYC metropolitan area.
What is the significance of having an agnostic operator for public assets?
Having an agnostic operator ensures full potential usage of heliports or vertiports without restrictions to specific companies, aircraft types, or technologies.
What is Lilium's go-to-market strategy for commercialization?
Lilium's approach focuses on being an OEM with aftermarket support and services while selling to various individuals and companies for private, premium, and shuttle operations.
What is Lilium's vision for regional air mobility in New York?
Lilium aims to create sustainable regional connectivity beyond the five boroughs, supporting businesses, residents, and visitors with time-saving and sustainable benefits.
What is the Northeast Corridor regional network's role in Lilium's vision?
The network will form part of Lilium's goal to bring regional air mobility to locations globally, with planned connections to Philadelphia, Atlantic City, the Hamptons, Baltimore, Boston, Martha's Vineyard, and more.
