The Brazilian government has just approved an investment of $74.9 million in Eve Air Mobility, a company controlled by Embraer, for the production of a flying car in Brazil.
The investment was approved by BNDES Participações S.A. (BNDESPar), a subsidiary of the Brazilian National Bank for Economic and Social Development.
This investment will be directed towards the development of an eVTOL, an electric vertical takeoff and landing aircraft, which will be produced in Taubaté, São Paulo, after certification by Anac (National Civil Aviation Agency).
The funds will be applied through the subscription of BDRs (Brazilian Depositary Receipts), certificates issued in Brazil and backed by common shares of Eve traded in the United States.
“BNDES’ support is a strategic step to position Brazil at the forefront of sustainable air mobility,” said Aloizio Mercadante, president of BNDES.
“Under President Lula‘s guidance, we reaffirm the government’s commitment to economic development, the creation of qualified jobs, and the country’s leadership in the transition to a cleaner and smarter transportation future,” he added.
According to Mercadante, the first flight of Eve‘s eVTOL is expected to take place in 2026, “120 years after the 14-Bis flight, a historic achievement by Santos Dumont and a legacy for the world.”
Eve‘s eVTOL will be capable of carrying four passengers and one pilot, with a range of 100 km. “This fundraising represents a major milestone in our journey,” said Johann Bordais, CEO of Eve.
“We are proud to count on BNDES’s participation, and we deeply value Embraer‘s ongoing commitment to Eve and our program.”
Photo and video: Eve Air Mobility. This content was created with the help of AI and reviewed by the editorial team.
