The company’s urban mobility arm, Eve Air Mobility, received funding for the development of eVTOL
Eve Air Mobility, a company of Embraer for urban mobility, announced this Monday (July 1, 2024) an investment of US$ 94 million (R$ 525 million) for the development of the eVTOL, an electric plane that will function as a “flying car”.
The Brazilian aircraft manufacturer informed that the contribution will be achieved through the issuance of new common shares of the company, a movement already coordinated with the company’s various investors.
“We appreciate the confidence these investors are placing in Eve. The new funding, combined with existing cash and credit lines, positions Eve well as it continues to advance eVTOL development and manufacturing.”said Eve’s CFO, Eduardo Couto.
In April, Embraer reported that the 1st eVTOL prototype will be produced by the end of the year and that the company already has a list of 3,000 orders for the model. The first deliveries and the start of the Eve factory in Taubaté, in the interior of São Paulo, are scheduled to begin in 2026.
Eve’s eVTOL uses a takeoff and cruise configuration with dedicated engines for vertical flight and fixed wings for cruise flight, with no need for components for transitioning during flight.
The latest concept includes an electric thruster powered by dual electric motors that provide propulsion redundancy, ensuring high performance and safety. The model is designed to offer thrust efficiency with low noise. It has low operating costs, fewer parts and optimized structures and systems.
Embraer’s idea is for the eVTOL to be used for transportation within cities. According to the company, a trip from Barra da Tijuca to Galeão Airport in Rio can be made in about 10 minutes with the flying car and will not emit CO2. A study conducted by the aircraft manufacturer itself indicated that the trip will cost from R$99.
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