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Lilium and NetJets Sign MOU for Purchase of Electric Vertical Take-Off and Landing Jets

(BRK.A), (BRK.B)

German aerospace company Lilium and Berkshire Hathaway’s NetJets have signed a Memorandum of Understanding for the prospective sale of up to 150 Lilium jets plus related after-market services.

Lilium is looking to produce the first electric vertical take-off and landing jet.

The proprietary technology at the core of the Lilium Jet is Ducted Electric Vectored Thrust (DEVT), which has zero operating emissions.

According to the company, the Lilium Jet can adapt for a range of customers and uses, with each configuration optimized for an unparalleled experience. The most spacious cabin arrangement is designed for private flights, with luxurious club seating. Alternatively, the cabin can be configured with 6 seats for passenger flights, or without seats to serve the zero-emissions logistics market.

Lilium announced the signing of the MOU in its 2021 FY Letter to Shareholders.

© 2022 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

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