Eve Air Mobility

Eve Holding, Inc., a leading aerospace company with operations in Melbourne, Florida, and Brazil, is focused on developing next-generation Urban Air Mobility (UAM) solutions. Its UAM offering encompasses the design and production of eVTOLs, maintenance, and support services for its own and third-party eVTOLs, fleet operations services in collaboration with partners, and an advanced Urban Air Traffic Management (UATM) system. The company is uniquely positioned to develop, certify, and commercialize its UAM solution on a global scale, with its aviation heritage, strategic partnership with Embraer S.A., extensive technology, and intellectual property portfolio.

Eve's eVTOL aircraft has a seating capacity for four passengers and a pilot. Once autonomous flight is certified, it would be able to carry up to six passengers. Its unique lift + cruise design, combining fixed wings, rotors, and pushers, ensures safety, efficiency, reliability, and certification. With a range of 60 miles (100 km), Eve's eVTOL provides a sustainable transportation option with reduced noise levels, particularly during cruise. Eve has achieved significant milestones in the development of its eVTOL aircraft, including engineering simulations, subscale test flights, wind tunnel tests, and full-scale ground tests. These advancements have enhanced the technological capability and maturity of its eVTOL, with an expected entry into service in 2026.

In July 2024, the company unveiled its first of six prototypes at Embraer's Gaviao Peixoto flight test center in Brazil. The eVTOL is claimed to offer 10–15 decibel reductions, being 65% quieter than helicopters.

Key customers and partnerships

Eve's partnership with Embraer grants Eve a royalty-free license to Embraer's intellectual property for use in the UAM market, access to skilled Embraer employees, and use of Embraer's global infrastructure. This strategic alignment provides Eve with cost and execution advantages for scaling its UAM solution worldwide.

In April 2024 , Eve signed a letter of intent with Japan's largest public helicopter air charter service, AirX, to supply up to 50 eVTOL aircraft. In May 2022 , The company partnered with Porsche Consulting, Inc. to help define the eVTOL supply chain, global manufacturing, and logistics macro strategy. In September 2022 , Eve Announced a strategic partnership with BLADE to expand the urban air mobility ecosystem in India, and further expanded partnership in June 2023 to accelerate electric air mobility in Europe. In 2022 , United Airlines made a USD 15 million investment in Eve Air Mobility and a conditional purchase agreement for 200 four-seat electric aircraft plus 200 options, expecting the first deliveries as early as 2026. Further, in June 2023 , the company announced a collaboration to bring first electric commuter flights to San Francisco. In January 2024 , Eve partnered with Thales, Honeywell, RECARO Aircraft Seating, and FACC to source supplies for its eVTOL aircrafts. The company signed up additional suppliers, Aciturri, a Spanish aerostructure developer, and Crouzet, a French mechatronic components developer, to source wings and pilot controls respectively in February 2024 . During the same month, Eve signed up SkyScape, a Japanese vertiport development company as its 13th Urban ATM customer and sixth Urban ATM vertiport customer. Moreover, the company also signed an MoU with Yugo Global Industries , a Singaporean aviation company, to explore the potential for UAM and eVTOL flights in Southeast Asia.

In June 2024, Eve partnered with four additional suppliers KRD, Latecoere, RALLC, and Alltec for eVTOL aircraft components including windows, aircraft doors and fuselage components. In July 2024, Eve partnered with Siemens Smart Infrastructure to evaluate the electrical infrastructure and energy management needed for efficient eVTOL operations.

Funding and financials

In May 2022, Eve was listed on the NYSE (EVEX) through a SPAC deal, where the newly combined business raised USD 337 million in gross proceeds to support the development, certification, and commercialization of Eve's UAM plans, including manufacturing, service and support, fleet operations, and air traffic management. In September 2022 , United Airlines invested USD 15 million in post-IPO equity in the company.

Eve recorded an EBIT loss of USD 189 million in 2022, primarily reflecting employee costs associated with the development and new warrant expenses. The company's R&D costs of USD 52 million reflected a higher R&D team headcount mainly related to eVTOL and UATM development, as well as higher engineering expenses contemplated in MSA agreements with Embraer S.A. (ERJ) and its subsidiary Atech.