09:04 AM EDT, 07/22/2024 (MT Newswires) -- Lilium (LILM) and the Saudi Arabian General Authority of Civil Aviation have signed a memorandum of understanding for developing and implanting regulations for electric vertical take-off and landing, or eVTOL, operations in Saudi Arabia starting in 2026, Lilium said Monday.

The partnership will form a joint working group to prepare regulations for electric air mobility in Saudi Arabia, covering "infrastructure, air operations, airworthiness, and airspace integration," the company said.

Lilium shares rose 1.6% in recent Monday premarket activity

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