By Gabriel Araujo
GAVIAO PEIXOTO, Brazil (Reuters) – Electric aircraft maker Eve has unveiled a full-scale prototype of its “flying taxi” for the first time, marking a milestone in its goal of obtaining certification and entering service by 2026.
Embraer-controlled Eve unveiled its electric vertical takeoff and landing (eVTOL) aircraft prototype at an event with investors and customers at the Brazilian aircraft maker's Gaviao Peixoto plant on July 3.
The company is one of a group of startups around the world developing battery-powered aircraft that can take off and land vertically to carry travelers on short trips around the city, allowing them to avoid traffic.
Eve hopes to fly the prototype by the end of this year or early 2025, Chief Executive Johann Bordais told Reuters at the event, after starting ground testing in July.
The first non-compliant prototype is equipped with electric motors, but has no cockpit or pilot. The final aircraft will have capacity for four passengers and a pilot.
“This prototype is completely remote so we can test the aerodynamics, start flying and then do what we call transition flight from vertical flight to horizontal flight,” Bordais said.
He said having the full-scale prototype ready for testing is another step toward certification of the aircraft, which Eve hopes to achieve in 2026. Eve has applied for certification in 2022 to Brazil's civil aviation regulator.
Eve will have five compatible prototypes ready next year and a pre-series eVTOL by 2026 as part of the certification process, Bordais said.
“This is a cornerstone for learning and moving forward,” he added. “Challenges exist. It is not trivial. We are at the limits of technology and aeronautics and this moment of testing is essential.”
Power grids around the world are not prepared for so-called flying cars, from electricity supplies to ports for vertical takeoff and landing.
NEW INVESTMENT
Eve debuted on the New York Stock Exchange in 2022, raising nearly $400 million to develop its eVTOL, a project initially expected to cost $540 million. The company subsequently secured a $92 million loan from Brazilian state-owned development bank BNDES.
Investors include United Airlines, BAE Systems (LON:), Thales, Rolls-Royce (OTC:), Acciona and Bradesco BBI.
This month, the firm announced a new round of fundraising totaling $94 million, with investments from Embraer and Japan's Nidec, one of its key suppliers.
“This gives us the peace of mind that we will be able to continue developing this product until 2027,” Bordais said, which would cover Eve's cash needs through the certification process. “We had cash for 2025, now we're going until 2027.”
Eve has accumulated almost 3,000 potential orders ahead of production, which it hopes to convert into firm orders. Interested customers include US airline United, charter company Global Crossing and aircraft leasing company Azorra.
“We don't need to convert these (letters of intent) at this time, especially with the new investment,” Bordais said.
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