Technology & Innovation
Eve Air Mobility Secures $40M BNDES Loan and Lists on B3 Exchange
Eve Air Mobility obtains $40 million financing from Brazil’s BNDES and lists on the B3 stock exchange, supporting eVTOL development with 2027 service entry.
This article is based on an official press release from Eve Air Mobility / Embraer and supporting market data.
Eve Air Mobility (“Eve”), the electric vertical take-off and landing (eVTOL) subsidiary of aerospace manufacturer Embraer, has executed a significant dual-strategy milestone to fortify its position in the urban air mobility sector. On December 9, 2025, the company celebrated its official listing on the Brazilian stock exchange (B3) while simultaneously announcing a fresh Investments package worth approximately $40 million (R$200 million) from Brazil’s National Development Bank (BNDES).
The new capital injection, sourced primarily from the BNDES Climate Fund, is earmarked for the critical development phases of Eve’s eVTOL program. According to the company’s announcement, these funds will support the integration of electric motors for the program’s first “certification-conforming” prototype and fund the rigorous test campaigns required by Brazil’s Civil Aviation Agency (ANAC). This latest development underscores the Brazilian government’s continued support for Eve as a strategic national asset in the global aerospace industry.
The financing agreement, valued at R$200 million, is structured not as a standard commercial loan but as a strategic development credit designed to foster Green-Technology within Brazil. The funding is divided into two specific sub-credits, providing Eve with a 15-year maturity term that offers a long-term financial runway.
According to details released regarding the transaction, the financing is split as follows:
This latest infusion brings the total support from BNDES to Eve to over $240 million since 2022. The favorable terms and long maturity period reflect the state’s commitment to ensuring Eve remains competitive against well-capitalized international rivals.
Coinciding with the funding announcement, Eve formally debuted on the B3, Brazil’s primary stock exchange, under the ticker symbol EVEB31. While the company remains legally headquartered in the United States with its primary listing on the New York Stock Exchange (NYSE: EVEX), the dual listing allows Eve to tap into a broader pool of capital.
The move enables Brazilian institutional and retail investors, who may face barriers trading on the NYSE, to invest directly in the company. This strategy reinforces Eve’s identity as a Brazilian innovator leveraging Embraer’s industrial heritage while maintaining global market access.
Eve continues to leverage its relationship with Embraer, the world’s third-largest aircraft manufacturer, to advance its industrial capabilities. The company is currently finalizing its first full-scale prototype and establishing a production facility in Taubaté, São Paulo. The facility is expected to utilize Embraer’s existing supply chain ecosystem to streamline Manufacturing. According to company data, Eve currently holds one of the industry’s largest order backlogs, comprising approximately 2,800 Letters of Intent (LOIs) valued at roughly $14 billion. The company is targeting an Entry into Service (EIS) date of 2027.
The global eVTOL market is currently undergoing a sharp bifurcation, separating well-capitalized leaders from struggling independent Startups. Eve’s recent moves highlight the effectiveness of its “capital-light” strategy, which relies on Embraer for R&D and infrastructure rather than building everything from scratch.
While competitors like Joby Aviation have raised massive sums, such as their recent $500 million investment from Toyota, to fund vertical integration, Eve’s $40 million loan carries significant weight due to its efficiency. By utilizing Embraer’s existing testing grounds and engineering workforce, every dollar of debt goes further for Eve than for a startup like Lilium, which recently faced insolvency.
Furthermore, the BNDES loan signals “sovereign backing.” In an industry fraught with regulatory and certification risks, the Brazilian government’s financial stake in Eve serves as a confidence signal to private investors. It suggests that Brazil views the success of Eve not just as a corporate goal, but as a matter of national industrial strategy, similar to how the U.S. and China support their respective aerospace champions.
What are Eve Air Mobility’s stock tickers? What is the value of the new BNDES financing? When is Eve’s aircraft expected to enter service? What is the BNDES Climate Fund? Sources: Eve Air Mobility / Embraer Press Release, BNDES Official Data
Eve Air Mobility Strengthens Financial Runway with B3 Listing and $40 Million BNDES Loan
Strategic Financing via BNDES Climate Fund
Dual Listing on the B3 Exchange
Program Status and Industrialization
AirPro News Analysis
Frequently Asked Questions
Eve is listed on the NYSE under the ticker EVEX and now on the Brazilian B3 exchange under the ticker EVEB31.
The financing package is worth approximately R$200 million, or roughly $40 million USD.
Eve is targeting an Entry into Service (EIS) date of 2027.
The Fundo Clima is a Brazilian government financing program dedicated to projects that mitigate climate change. Eve’s participation falls under the “Green Industry” modality, supporting the development of zero-emission aviation technology.
Photo Credit: Embraer