FutureFlight
Fresh Funding Announced For eVTOL Aircraft Developers EHang and Eve
New share issues and lines of credit were announced at the start of the last week of 2022 as both companies manage the cost of bringing new electric aircraft to market.
EHang is developing the EH216 as part of a family of autonomous eVTOL aircraft.
EHang is developing the EH216 as part of a family of autonomous eVTOL aircraft. (Image EHang)

The final week of 2022 has seen two publicly-owned eVTOL developers bolstering their financial foundations in separate agreements valued potentially at more than $110 million. Transactions involving China’s EHang and Eve Air Mobility, in which Brazilian aerospace group Embraer is the majority shareholder, were both announced on December 23.

EHang is being boosted by a $10 million equity investment from Qingdao West Coast New Area. The organization, which is one of China’s new government-backed “national new areas,” further agreed to a potential additional $10 million investment in the future. EHang says it will use the funds as working capital.