WionDrive News Desk 
Eve, the electric aircraft maker majority owned by Brazilian planemaker Embraer, plans to raise additional funds as early as next month to finance its operations through the certification and entry into service of its flying taxi in 2026, according to CEO Johann Bordais.
While Eve has enough cash and borrowing facilities to fund operations until 2025, the company forecasts achieving certification and commencing services with its electric vertical take-off and landing (eVTOL) aircraft in 2026, necessitating further funding.
Eve is among several startups globally developing battery-powered aircraft capable of vertical take-off and landing, designed for short urban air travel. The company has secured letters of intent from customers like United Airlines, charter firms, and aircraft lessors across countries like Brazil, the U.S., India, and France.
Bordais did not disclose the targeted amount or specifics of the planned fundraising but stated that Eve is “doing well in terms of cash” after raising around USD 400 million through its NYSE debut in May 2022 and securing an additional USD 92 million loan from Brazil’s BNDES. As of Q1 2023, Eve had USD 280 million in total liquidity.
The development of Eve’s eVTOL aircraft remains on schedule, with a full-scale prototype expected to conduct unmanned test flights by year-end, following successful wind tunnel testing last year. Ground tests for the prototype are slated to begin in July.
Obtaining certification is Eve’s most pressing need, having applied to Brazil’s aviation regulator in 2022, with plans for subsequent U.S. FAA approval. Eve aims to maintain its 2026 certification target, a rarity in the sector according to analysts who view the company as financially strong.
Eve has secured nearly 3,000 orders and finalised most component suppliers, with 90 per cent of its supply chain budget in place. The company’s first factory will be in Taubate, Brazil, leveraging proximity to Embraer’s headquarters and transportation infrastructure, with an initial annual capacity of 120 eVTOLs and potential future expansion to 480 units. A potential new factory abroad, possibly in the U.S., is under consideration but not an immediate priority.
