Eve Air Mobility, a subsidiary of Embraer, has successfully secured an $88 million loan from Brazil's National Development Bank (BNDES) to fund the development of its electric vertical take-off and landing (eVTOL) aircraft production facility in Taubaté, São Paulo. This strategic move marks a significant milestone in Eve's mission to advance urban air mobility and decarbonization efforts.

The financing, part of the BNDES Mais Inovação program, underscores the bank's commitment to supporting innovative projects within Brazil's burgeoning air mobility sector. The facility, which will be the first of its kind in Brazil, is designed to produce up to 480 eVTOL aircraft annually, utilizing clean, renewable energy sources.

Eve's CEO, Johann Bordais, expressed gratitude for BNDES's continued support, highlighting the loan's role in establishing a sustainable and efficient manufacturing operation. The facility's modular design will allow for phased production increases, aligning with market demand and ensuring capital efficiency.

The loan agreement, structured with sub-credits from both domestic and international sources, has a maturity of 16 years. This long-term financing strengthens Eve's financial position, enabling the company to focus on delivering value to shareholders through a balanced mix of equity and debt.

Eve's partnership with BNDES builds on a previous $92.5 million line of credit approved in 2022, further solidifying the company's financial foundation as it progresses in the eVTOL market. The company boasts a substantial backlog of 2,900 eVTOL orders from 30 customers across 13 countries, representing potential sales revenue of $14.5 billion.

The strategic location of the new facility, within Embraer's existing unit, offers logistical advantages, including proximity to major highways and railroads, as well as Embraer's headquarters in São José dos Campos. This positioning is expected to enhance operational efficiency and support the broader goals of the urban air mobility ecosystem.

Eve's advancements are supported by Embraer's extensive aerospace expertise, providing a robust foundation for the company's innovative eVTOL designs. As Eve continues to develop its prototype, the company remains focused on ensuring high performance, safety, and reliability in its aircraft, leveraging Embraer's global service and support network to achieve these goals.