Eve announces a Letter of Intent (LOI) for up to 150 eVTOLs from collaboration between Embraer and BAE SystemsEve announces a Letter of Intent (LOI) for up to 150 eVTOLs from collaboration between Embraer and BAE Systems

Expected to be launched in the market in 2026, Eve’s eVTOL will allow urban flights with zero emissions and up to 90% less noise than helicopters

The National Bank for Economic and Social Development (BNDES) has approved financing to Eve Soluções de Mobilidade Aérea Urbana Ltda (Eve), an independent company founded by Embraer, for the first phase of development of electric vertical take-off and landing aircraft (eVTOL). Also known as a flying car, Eve’s eVTOL will be designed for urban flight and will provide low noise levels and greater sustainability than traditional vehicles. With zero local emissions, the vehicle should be available on the market starting in 2026.

The BNDES will finance R$490 million of the investments, corresponding to 75% of the total invested in this phase of the project’s development, focused on research and development (R&D), which is R$652 million. Of this amount, R$ 80 million will come from the BNDES Climate Fund Program (Urban Mobility sub-program) and R$ 410 million will come from the Finem Line – Incentivized A/Innovation.

The vehicle will be 100% battery electric and initially capable of carrying four passengers plus the pilot, for a distance of up to 100 kilometers. The noise emitted by the aircraft will be up to 90% less than helicopters.

The urban air mobility market will be driven in the coming decades by factors such as growing urban populations, limited land space and high infrastructure improvement costs, as well as high local pollution levels of traditional modes of transportation. With innovative technology, eVTOLs will enable short trips faster than traditional modes and with zero local greenhouse gas emissions.

“We are very proud of the BNDES’ support for the development of eVTOL. The operation is especially emblematic within the scope of the Climate Fund, as it contemplates the development of a disruptive product that will mitigate the emission of greenhouse gases. It is a huge innovative effort carried out in Brazil by highly qualified engineers. The successful development of eVTOL will allow the company to enter a technology-intensive market segment. It is worth mentioning that this operation constitutes another milestone in the long strategic partnership between BNDES and Embraer, which began in 1997”, comments Bruno Aranha, director of productive and socio-environmental credit at BNDES.

“We are very happy with the confidence and support the BNDES has shown to Eve as we advance the development of our zero-emissions electric aircraft and continue to commit to carbon neutrality throughout the aircraft’s life cycle,” said André Stein, co-CEO of Eve. “This support will not only accelerate innovation, but also the rise of a new form of more sustainable aviation with eVTOL aircraft, helping to transform the industry and urban mobility, and reducing noise pollution and the cost of urban flights. BNDES will be a key partner in completing the development of our product and service portfolio.”

The consummation of the financing is subject to the fulfillment of preconditions set by BNDES, among others, and the signing of the respective contract.

*** Translated by the DEFCONPress FYI Team ***

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