Eve Air Mobility secures $88M from BNDES to finance eVTOL manufacturing

Eve Air Mobility announced that the company secured a $881M loan agreement with Brazil’s National Development Bank to fund the development of the company’s electric vertical take-off and landing aircraft production facility in Taubate, in the state of Sao Paulo, Brazil. Under the BNDES Mais Inovacao program, the financing reinforces BNDES’ commitment to supporting innovative projects and Eve’s advancements in fostering decarbonization and the urban air mobility industry. “We are profoundly grateful for the continued support and confidence that BNDES has shown in Eve as we advance in our mission to reimagine mobility through efficient and sustainable urban flight experiences. This financing will be instrumental in setting up our eVTOL manufacturing facility, which will be not only the first of its kind in Brazil but also powered by clean, renewable energy, aligned with our commitment to sustainability,” said Johann Bordais, CEO of Eve. The manufacturing facility financing builds upon the partnership between Eve and BNDES following the 2022 approval of a $92.5M line of credit to support Eve’s eVTOL development program. The new funding agreement is structured by sub-credits from domestic and international sources, including the bank’s foreign currency funds, and a maturity of 16 years. With an eventual total expected output of up to 480 aircraft per year, Eve plans to expand the site’s production capacity on a modular basis, with four equally sized modules of 120 aircraft per year.