- Eve has unveiled its full-scale “flying taxi” prototype, an electric vertical take-off and landing aircraft set to reshape urban travel.
- Eve has secured substantial investments and loans, guaranteeing its financial stability and progression towards certification for the eVTOL project.
OUR TAKE
Electric Vertical Take-off and Landing (eVTOL) aircraft, often referred to as ‘flying taxis’, are moving from science fiction to reality. Eve, a subsidiary of Embraer, has recently taken an important step in this direction. For the first time, they demonstrated their full-size ‘flying taxi’ prototype, which is not only a milestone in the company’s history, but also heralds a new era of urban air transport in the future. This innovative initiative has not only attracted the attention of global invest
–Elodie Qian, BTW reporter
What happened
Brazilian aviation giant Embraer’s subsidiary, Eve, has unveiled the full-scale prototype of its electric “flying taxi” in a significant step towards its goal of achieving certification and service entry by 2026.
The unveiling of its electric vertical take-off and landing (eVTOL) took place at the company’s Gaviao Peixoto facility with investors and clients on July 3.
Eve, one of the pioneers in the development of battery-powered aircraft, aims to revolutionise urban travel by offering short, traffic-avoiding flights. The company’s CEO, Johann Bordais, confirmed that the prototype is expected to take to the skies by the end of this year or early next, following ground tests scheduled for July.
The initial prototype, devoid of a cabin and pilot, is equipped with electric engines. The final aircraft will seat four passengers and a pilot.
“This prototype is completely remote so we can test aerodynamics, start flying and then make what we call transition flight from vertical to horizontal flight,” Bordais said. He said having the full-scale prototype ready for tests is another step toward certifying the aircraft, which Eve expects to achieve by 2026. Eve applied for certification in 2022 to Brazil’s civil aviation regulator.
Eve will have five conforming prototypes ready next year and a pre-series eVTOL by 2026 as part of the certification process, Bordais said.
“This is a foundation stone so we can learn and keep going,” he added. “Challenges exist. It’s not something trivial. We are at the limits of technology and aeronautics, and this moment of testing is fundamental.”
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Why it’s important
Despite the global power grid not being fully prepared for the advent of flying cars, Eve has made significant strides in its development. The company went public on the New York Stock Exchange in 2022, raising nearly $400 million to fund the eVTOL project, which was initially slated to cost $540 million. Additionally, a $92-million loan from the Brazilian state development bank BNDES and a recent $94 million fundraising round, involving key investments from Embraer and Japan’s Nidec.
“This gives us comfort that we will be able to keep developing this product until 2027,” Bordais said, which would meet Eve’s cash needs through the certification process. “We had cash for 2025, now we are going until 2027.”
Eve has already garnered nearly 3,000 potential orders, with key interested parties including United Airlines, Global Crossing, and Azorra.
Bordais noted that there is no immediate need to convert these letters of intent into firm orders, given the recent influx of investment. “We do not need to convert these (letters of intent) right now, especially with the new investment,” he said.
This financial security allows Eve to continue its innovative work in the aviation sector, pushing the boundaries of what is possible in air travel.
