Aircraft company Eve Air Mobility has received an $88m loan from Brazil’s National Development Bank (BNDES) to finance the construction of its electric vertical take-off and landing (eVTOL) aircraft production facility in Brazil.
The facility will be located in Taubaté, in the state of São Paulo.
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This agreement extends the partnership between Eve and BNDES, following a $92.5m credit line in 2022 for eVTOL development.
The new financing includes sub-credits from domestic and international sources, with a 16-year maturity period.
Eve plans a modular expansion of the Taubaté facility to eventually produce up to 480 eVTOLs per year to meet the growing market demand.
The company has already secured letters of intent for 2,900 eVTOLs from customers across 13 countries, potentially generating $14.5bn in sales.
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By GlobalDataEve’s eVTOL design features eight propellers for vertical lift and fixed wings for cruising without component repositioning during flight.
The aircraft also includes dual electric motors for propulsion redundancy, ensuring high performance and safety with low operational costs.
The company has already selected all primary suppliers and unveiled unveiled the first full-scale prototype of its eVTO aircraft in July this year.
Eve is currently testing its eVTOL prototype to assess the aircraft’s performance including flight capabilities and safety features.
Eve CEO Johann Bordais said:“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.
Earlier this year, Eve Air Mobility raised $94m in new equity funding to support the continued development of its aircraft.
