Eve’s UAM business development gets lift from new credit lines
Urban air mobility (UAM) aircraft developer Eve has been a hard-charging arrival to the next-generation aviation sector, and in less than two years after its October 2020 inception has revealed numerous deals after going public with a successful Wall Street listing. Despite that, the Embraer unit now says it has secured new financing for continued development of a vehicle it has yet to present.
Just before Christmas Eve, Eve announced it had negotiated new credit lines from Brazil’s National Development Bank to support the São José dos Campos-based company’s further development of UAM aircraft, including air taxis and longer flying planes. Two different lines will provide a total of $92.5 million over a 12-year period that – according to the conditional wording in an Eve press release – “are expected to offer beneficial terms and conditions” to the company.
Read: United adds Eve Mobility as AAM partner in multimillion-dollar deal