09:58 AM EDT, 05/13/2024 (MT Newswires) -- Lilium (LILM) said Monday that it is in advanced discussions with the French government about potential subsidies and loan guarantees to help it expand its production capacity into the country.

The German developer of all-electric vertical take-off and landing jets said it is evaluating several possible sites in France, including the Nouvelle Aquitaine region, and that the talks might be concluded in the coming weeks.

Lilium said it "is attracted by France's well-established aerospace industry, expertise in electric mobility, highly skilled workforce, and supportive government environment."

The company said it estimated total future investment of up to 400 million euros ($432.1 million) in France over several years if it expands into the country.

Shares of Lilium were up 4.2% in recent trading.

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