Finance, Taxes, Insurance
Brazilian State Bank Funds Eve Air Mobility's eVTOL Aircraft Factory
Embraer offshoot will receive a further loan of $88 million
Eve Air Mobility eVTOL aircraft
Eve Air Mobility is building a dedicated production line for its eVTOL aircraft at Taubaté in Brazil's São Paulo state.

Brazil’s national development bank, BNDES, has agreed to an $88 million loan for Eve Air Mobility to support work on the company’s eVTOL aircraft production line at Taubaté in São Paulo state. The funding, announced on October 15, follows an earlier $92.5 million line of credit approved by the government-backed bank in 2022 to support development of the four-passenger vehicle that the Embraer offshoot is looking to bring to market in 2026.

According to Eve, which is headquartered in Melbourne, Florida, it expects to achieve an eventual rate of production of up to 480 aircraft per year. The company said it plans to expand its manufacturing capacity gradually in increments of 120 units, based on reported letters of intent for 2,900 eVTOL aircraft from 30 customers in 13 countries.