The company founded by Embraer will finance 75% of its project with the grant and the forecast is that the vehicles will reach the market in 2026
Eve, the air mobility company founded by Embraer, and which is part of EmbraerX, a division of the state-owned company dedicated to innovation, has just raised an investment of R$ 490 million from National Bank for Economic and Social Development (BNDES).
The contribution finances the execution of the first phase of the project for the production of electric vertical take-off and landing (eVTOL) aircraft. With zero local emissions, the vehicle is expected to be available on the market from 2026.
According to the bank, the vehicle, known as the flying car, “will be designed for urban flights, with low noise levels and greater sustainability than traditional vehicles”. The funding of BRL 490 million is equivalent to 75% of the total invested in this phase of the project, focused on research and development (R&D), which is BRL 652 million.
Also, the BNDES extension informed that the consummation of the loan is subject to the occurrence of the conditions established by the institution itself and, finally, to the signing of the relative contract.
The 100% battery electric vehicle will initially, in addition to the pilot, have the capacity to carry four passengers, for a distance of up to 100 kilometres. According to the specifications, the aircraft will emit up to 90% less noise than helicopters.
As explained by Vigil in a press release, the investment comes at a time when the air mobility market is heating up, stimulated by factors such as urban population growth, limited land area and high infrastructure upgrade costs, as well as high levels of local pollution of means of transport traditional transport.
“This support will not only accelerate innovation, but also the rise of a new, more sustainable form of aviation with eVTOL aircraft, helping transform industry and urban mobility, and reducing noise pollution and the cost of urban flying.” “said André Stein, co-CEO of Vigilin a statement.
The director of productive and socio-environmental credit at BNDES extensionBruno Aranha, said that the bank is proud to support the development of eVTOL and underlined that the operation is particularly emblematic in the context of the Climate Fund, as it serves the development of a disruptive product and which will reduce the emission of greenhouse gases .
“This is a huge innovative effort carried out in Brazil by highly skilled engineers. The successful development of the eVTOL will allow entry into a technology-intensive market segment. BNDES extension and the embracestarted in 1997″.
strength on the market
The capitalization of Vigil it comes in a year that the Eve plane has gone to market to capitalize on. In May, the company went public on the New York Stock Exchange, at a valuation of $2.4 billion, after its merger with SPAC (special purpose acquisitions firm) Zanite.
In addition, three months ago the company received a grant of US$15 million (about R$77 million) from United Airlines Ventures, the US capital investment arm. United Airlines🇧🇷 In addition to making the investment, United has purchased around 200 four-seat aircraft and another 200 options, with deliveries scheduled for 2026.
*With information from Agência Brasil
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Source: Terra
Camila Luna is a writer at Gossipify, where she covers the latest movies and television series. With a passion for all things entertainment, Camila brings her unique perspective to her writing and offers readers an inside look at the industry. Camila is a graduate from the University of California, Los Angeles (UCLA) with a degree in English and is also a avid movie watcher.
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