What’s new: German electric vertical takeoff and landing (eVTOL) aircraft maker Lilium NV said that it has signed a deal establishing its APAC regional headquarters in Shenzhen, South China’s Guangdong province.
The regional headquarters, located in the Bao’an Low Altitude Economy Industry Public Service Center, will support Lilium in sales and services across China and the Asia-Pacific region, with local recruitment expected to begin this year, the company said in a statement on Monday.
Lilium will also undertake certification and validation in China, which is expected to account for nearly 25% of the global eVTOL market, the statement said.
The background: Shenzhen, with a local economy reliant on tech firms, is at the forefront of developing a low-altitude economy. The city’s government last July signed deals with startups EHang Holdings Ltd. and Shanghai AutoFlight Co. Ltd. to explore use of their eVTOLs locally.
It’s part of the city’s efforts to become an urban air mobility hub, a place where companies produce and operate vehicles that fly in low-altitude airspace. The southern metropolis has also rolled out measures like cash incentives to attract flying-car makers to the city.
The low-altitude economy refers to one where drones and flying vehicles are used to develop the transportation, logistics and tourism businesses, as well as the manufacturing industry of such vehicles.
Read more In Depth: Getting China’s Low-Altitude Economy Off the Ground
Contact reporter Ding Yi (yiding@caixin.com) and editor Kelsey Cheng (kelseycheng@caixin.com)
