LONDON – Ever since Embraer’s Eve Air Mobility (EVE) unveiled, during the latest Farnborough Air Show, its first 1:1 scale mock-up of its eVTOL (Electric Vertical Take-Off and Landing) aircraft cabin, analysts’ anticipations went high as the program evolved to make the Urban Air Mobility (UAM) market a reality.
“This mock-up is brilliantly embodied in a cabin concept that we have co-created with potential users for years. We recently received feedback from our advisory board.”
“Our solutions were designed with key market needs in mind, such as accessibility, safety, sustainability, and ticket price, it’s always exciting to get to this stage of the program,” said Flavia Ciaccia, EVE’s User Experience VP.
As part of the ongoing product development, the company also revealed the vehicle’s current design, which uses a conventional wing and tail instead of the previous canard configuration.
The eight rotors are attached around the wing, providing vertical takeoff and landing capability, as well as safety and reliability in a simple and intuitive lift-plus-cruise design.
$760 billion market
Andre Stein, Co-CEO of EVE, added: “Our teams have been working hard to create the best solutions for the global urban air mobility environment, and our experience in aviation through Embraer not only gives us the assurance that we are on the right track but also puts us at the forefront of the market.
We’ve been accelerating our resources engagement and evolving the project’s maturity.”
EVE has been dedicated to promoting a potential $760 billion UAM market globally and is committed to activating the new market in a sustainable and secure manner. The company’s eVTOL will offer environmentally friendly flights at a lower cost and is expected to enter service in 2026.
Since its launch in October 2020, Embraer’s UAM subsidiary has secured commitments for approximately 1,900 units, valued at $6.6 billion, with the aim of becoming a leader in this emerging market.
EVE management participated in a ceremony held at the New York Stock Exchange (NYSE) on May 10, 2022, by ringing the opening bell to celebrate the IPO. The common stock offering opened at an initial price of $10.28.
Since the IPO, EVE has continued its strategic expansion efforts, announcing partnerships with Porsche Consulting to define the global eVTOL strategy and with Kenya Airways for the purchase of 40 eVTOL aircraft.
Notably, EVE’s strategic partnership with Embraer includes a royalty-free license to Embraer’s background IP for use within the UAM market as well as access to thousands of skilled Embraer employees on a flexible, first-priority basis and use of Embraer’s global infrastructure. The strategic alignment with Embraer also provides EVE with significant cost and implementation advantages as it seeks to scale its UAM solution globally.
“We believe EVE is in a unique position to develop, validate and commercialize our UAM solutions globally,” said Jerry DeMuro, Co-CEO of EVE.
“Our pipeline of launch orders for 1,825 vehicles secured through non-binding letters of intent from 19 industry-leading customers who have also invested in EVE, including Azorra Aviation, Falko Regional Aircraft, Republic Airways, and SkyWest, and provides powerful validation of our business strategy and vision.”
EVE expressed its commitment to accelerating the UAM ecosystem and leveraging a startup mindset, backed by Embraer’s 50+ years of aviation experience.
With a single focus, EVE takes a holistic approach to develop the UAM ecosystem, through an advanced eVTOL project, a comprehensive global services and support network, and a stand-out air traffic management solution.