Eve Air Mobility has secured an $88 million loan from Brazil’s National Development Bank (BNDES) to fund the construction of its electric vertical take-off and landing (eVTOL) aircraft production facility in Taubaté, São Paulo.
This new agreement deepens the partnership between Eve and BNDES, following a $92.5 million credit line granted in 2022 for eVTOL development. The loan package includes sub-credits from both domestic and international sources, with a 16-year maturity period.
The Taubaté facility will be expanded modularly to eventually produce up to 480 eVTOLs annually to meet rising market demand. Eve has already secured letters of intent for 2,900 eVTOLs from customers in 13 countries, potentially generating $14.5 billion in sales.
Eve’s eVTOL design features eight propellers for vertical lift, along with fixed wings for efficient cruising. The aircraft also incorporates dual electric motors to ensure propulsion redundancy, enhancing safety and performance while minimizing operational costs.
The company has selected all primary suppliers and, in July, unveiled its first full-scale eVTOL prototype. Currently, Eve is testing the prototype to evaluate flight capabilities and safety features.
Eve’s CEO, Johann Bordais, expressed gratitude for BNDES’ continued support: “We are profoundly grateful for the continued support and confidence that BNDES has shown in Eve as we advance in our mission to reimagine mobility through efficient and sustainable urban flight experiences.
“This financing will be instrumental in setting up our eVTOL manufacturing facility, which will be not only the first of its kind in Brazil but also powered by clean, renewable energy, aligned with our commitment to sustainability.
“We are deeply thankful for BNDES’ confidence in Eve as we advance our mission to revolutionize mobility with efficient and sustainable urban flight. This financing will be crucial in establishing our eVTOL manufacturing facility, which will be the first of its kind in Brazil and powered by renewable energy, reflecting our commitment to sustainability.”
Earlier this year, Eve also raised $94 million in new equity funding to further develop its aircraft.
“Eve obtains $88m loan for eVTOL manufacturing facility in Brazil” was originally created and published by Airport Technology, a GlobalData-owned brand.
