Lilium claims that its five-seater jets can reach speeds of up to 186 miles an hour.Lilium, a German start up that makes electric jets that can takeoff and land vertically from ground level, announced plans to sell 220 vehicles to Azul, a Brazilian airline.On Monday, the two companies announced that they would build an eVTOL network in Brazil from now until 2025.Alex Asseily (Lilith's chief strategy officer), stated to CNBC that the aircraft they plan to launch will travel 175 miles per hour. The range will be 155 miles.As policymakers acknowledge the need to transition to a low carbon society, pressure is growing on the aviation industry to find new ways to power their aircraft.Asseily stated that Lilium's most recent aircraft is a five seater, but that the serial-produced model that Azul purchases will be a seven seater.Azul will spend approximately $4.5 million on each Lilium jet.Azul is Brazil's largest domestic airline, both in terms of daily departures and cities served.Azul CEO John Rodgerson stated in a statement that Azul’s brand, route network, loyalty program and route network will help "create the markets, demand for the Lilium Jet Network in Brazil".Lilium has been supported by investors. It competes with BlackFly and Airbus, having raised $300 million so far.The company plans to raise $830 million more, which will give it a valuation of approximately $3.3 billion. Thomas Enders, former CEO of Airbus, will chair the SPAC with QellSPAC.After the completion of Lilium’s business combination with QellSPAC, Gabrielle Toledano, a Tesla veteran and Henri Courpron, an aviation executive will join Lilium’s board of directors.
