Written by Gabriel Araujo
GAVIAO PEXOTO, Brazil (Reuters) – Electric aircraft maker EVE has shown off the full-size prototype of its “flying taxi” for the first time, marking a major milestone as the company aims to gain certification and enter service in 2026.
Embraer-controlled Eve launched its prototype electric vertical take-off and landing (eVTOL) aircraft at a ceremony with investors and customers at the Brazilian aircraft maker’s Gaviao Peixoto plant on July 3.
The company is one of a handful of startups around the world developing battery-powered aircraft that can take off and land vertically to carry passengers on short trips within cities, allowing them to beat traffic.
EVE CEO Johan Bordes told Reuters at the event that the company expects to launch the prototype by the end of this year or early 2025, after ground testing begins in July.
The low-spec prototype has electric motors but no cabin or pilot. The final aircraft will seat four passengers and a pilot.
“This prototype is fully remote so we can test the aerodynamics, start flying, and then do what we call a transition flight from vertical to horizontal flight,” Bordes said.
Having a full-size prototype ready for testing is another step toward certification, which EVE expects to achieve by 2026, he said. EVE applied for certification in 2022 to Brazil’s civil aviation regulator.
EVE will have five prototypes ready next year and an electric helicopter ready for production by 2026 as part of the certification process, Bordes said.
“This is the foundation so we can learn and continue. The challenges are there. They are not trivial. We are at the frontier of technology and aviation, and this moment of testing is essential,” he added.
Power grids around the world are not yet ready for so-called flying cars, from electricity supplies to ports for vertical take-off and landing.
New investment
Eve debuted on the New York Stock Exchange in 2022, raising nearly $400 million to develop the eVTOL, a project that was initially slated to cost $540 million. The company later secured a $92 million loan from Brazil’s state development bank BNDES.
Investors include United Airlines, BAE Systems (LON:), Thales, Rolls-Royce (OTC:), Acciona and Bradesco BPI.
This month, the company announced a new round of fundraising totaling $94 million, with investments from Embraer and Japan’s Nidec, one of its main suppliers.
“This gives us comfort that we will be able to continue developing this product through 2027,” Bordes said, which would meet EV’s cash needs through the certification process. “We had cash for 2025, and now we’re going to continue through 2027.”
Eve has collected nearly 3,000 potential orders before production begins, and hopes to eventually convert them into firm orders. Interested customers include U.S. airline United, aircraft leasing company Global Crossing and aircraft leasing company Azorra.
“We don’t need to convert these (letters of intent) now, especially with the new investment,” Bordes said.