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When the electric vertical take-off and landing industry began gathering momentum several years ago, sober analysts warned it could take up to $1 billion to certify a new eVTOL aircraft — an estimate that at the time seemed eye-watering.
With the latest round of financial filings from publicly traded eVTOL developers, it’s apparent that bringing an aircraft to market could actually cost quite a bit more than that, once all expenses are factored in.
Related: Visualizing eVTOL startups’ cash burn
Germany-based Lilium became the first public eVTOL company to hit the billion-dollar mark, reporting an accumulated loss of €970.2 million as of December 31, 2022. That converts to around $1.02 billion using the annual exchange rate in its financial statement. With Lilium’s shares trading in penny stock territory, its accumulated loss is now more than four times the value of its current market capitalization.
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