Germany’s Lilium, Swiss firm expand to France

German aviation firm Lilium and Swiss-based nickel refinery company KL1 will establish new sites in France with 700 million euros ($753.83 million) investment, French Finance Minister Bruno Le Maire announced on Sunday.

Lilium plans to invest 400 million euros in a new factory, which is expected to create up to 850 jobs. The exact location of the plant, which will produce electric jet aircraft, is yet to be determined, but it will be in the Nouvelle Aquitaine region.

KL1’s new site will be in Blanquefort, near Bordeaux, with an investment of 300 million euros, anticipated to create 200 jobs.

These announcements were made in the lead-up to the annual Choose France business summit, an event aimed at attracting foreign investments. Le Maire highlighted the benefits of the summit, stating, “Choose France brings in capital, new technologies, and helps us plug holes in gaps on certain value chains.”