Electric aircraft manufacturer Eve reported this Tuesday that it signed R$500 million in financing with the Brazilian National Development Bank (BNDES) to develop its first production unit, in Taubaté (SP).
Eve, controlled by Embraer, is one of several startups around the world that develop battery-powered aircraft, capable of taking off and landing vertically to transport passengers over short urban distances.
The company anticipates that its electric vertical takeoff and landing (eVTOL) aircraft will be certified and enter service in 2026, and has already accumulated nearly 3,000 potential orders ahead of production, with potential revenue of US$14.5 billion.
BNDES had already approved a credit line of 490 million reais in 2022 to support the development of Eve’s eVTOL, which also obtained a series of equity investments. The new financing has a term of 16 years, according to Eve.
“This financing strengthens Eve’s robust cash position by adding long-term financing aligned with our company’s profile,” said Eve’s financial director, Eduardo Couto, in a press release.
“As we advance our eVTOL program development and manufacturing efforts, our focus remains on delivering long-term value for our shareholders with an optimal capital structure including equity and debt.”
By Gabriel Araujo
