Electric aircraft maker Eve Holding is “on track” to meet its goal of starting commercial operations in 2026, an executive said Friday, and certifying its aircraft is the most immediate goal.
Louise Maud, Eve’s vice president of Services and Fleet Operations, told Reuters in an interview that she expects authorities to make progress on setting up regulations for the sector in 2023, which would pave the way for certification “in a few years”.
on the eveControlled by Brazilian planner embraerLast year began a process for Brazil’s civil aviation regulator to certify its electric vertical take-off and landing (eVTOL) aircraft, which has already accumulated a backlog of more than 2,700 orders even before production begins.
“Certainly entering service is an important milestone, but before that comes certification. And an airplane, even a conventional one,” said Maud ahead of the MRO Latin America event in Buenos Aires. , is always a big challenge.”
Eve is confident of a “robust project”, supported by Embraer’s expertise, said Maud, reiterating the target to start operations in 2026.
He said Eve already had the cash needed for the project, initially expected to cost $540 million after a listing in the United States and additional funding from Brazil’s state development bank BNDES.
Eve will merge its business with Zenite Acquisition Corp in May 2022 to raise about $400 million (roughly Rs. 3,300 crores) on the New York Stock Exchange to manufacture its flying taxis. BNDES later announced that it would provide an additional 490 million reais (about ₹780 crore) to Eve.
Eve’s investors include United Airlines, acciona, skywestBradesco BBI, Rolls-Royce, Thales And bae System.
“We have a solid foundation of investment to make our project, company and products viable,” said Moud, adding that Eve is also working on a software-like solution for air traffic management.
“The investment we’ve already raised gives us the peace of mind to continue developing all of these products until they are put into service,” he added. More investments may come in if needed, but we are still in a very comfortable position.”
Consulting firm McKinsey recently said that additional funding will be crucial for sector players this year. Eve’s partners include Joby Aviation, Vertical Aerospace, Lilium NV and Archer Aviation.
McKinsey also hinted at possible consolidation in a report, saying that mergers and business closures “could be seen as players mature and it becomes clearer which technologies, designs and business models likely to succeed”.
Maud acknowledged there could be a consolidation process in the sector, but noted Eve is still exclusively focused on working through its partnership.
© Thomson Reuters 2023