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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.

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This article is based on an official press release from Eve Air Mobility / Embraer and supporting market data.

Eve Air Mobility Strengthens Financial Runway with B3 Listing and $40 Million BNDES Loan

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.

Strategic Financing via BNDES Climate Fund

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:

  • Sub-credit A (~$32 million): Sourced from the Fundo Clima (Climate Fund) under the “Green Industry” modality. This capital is specifically allocated for projects that reduce greenhouse gas emissions and promote sustainable urban development.
  • Sub-credit B (~$8 million): Sourced from the FINEM Innovation Line, utilizing BNDES resources raised in foreign currency to support technological innovation.

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.

Dual Listing on the B3 Exchange

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.

Program Status and Industrialization

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.

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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.

AirPro News Analysis

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.

Frequently Asked Questions

What are Eve Air Mobility’s stock tickers?
Eve is listed on the NYSE under the ticker EVEX and now on the Brazilian B3 exchange under the ticker EVEB31.

What is the value of the new BNDES financing?
The financing package is worth approximately R$200 million, or roughly $40 million USD.

When is Eve’s aircraft expected to enter service?
Eve is targeting an Entry into Service (EIS) date of 2027.

What is the BNDES Climate Fund?
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.

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Sources: Eve Air Mobility / Embraer Press Release, BNDES Official Data

Photo Credit: Embraer

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Joby Aviation and Metropolis Develop 25 US Vertiports for eVTOL Launch

Joby Aviation partners with Metropolis Technologies to retrofit parking garages into 25 vertiports across US cities, supporting a 2026 eVTOL commercial launch.

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This article is based on an official press release from Joby Aviation.

Joby Aviation has announced a significant infrastructure partnership with Metropolis Technologies to develop a network of 25 vertiports across the United States. The collaboration aims to repurpose existing parking infrastructure into “mobility hubs” to support the commercial launch of electric vertical takeoff and landing (eVTOL) aircraft.

According to the company’s announcement, the partnership will leverage Metropolis’s extensive portfolio of parking facilities to create takeoff and landing sites in key metropolitan areas. By retrofitting existing structures rather than building new terminals from the ground up, Joby intends to accelerate the deployment of its air taxi service, which is currently targeting a commercial launch in 2026.

The initiative addresses one of the most critical challenges in the Urban Air Mobility (UAM) sector: the “last mile” connection. The integration of ground and air travel is designed to offer passengers a seamless transition from their vehicles to Joby’s aircraft, utilizing advanced artificial intelligence to streamline the process.

Transforming Parking Garages into Mobility Hubs

The core strategy of this partnership involves identifying and upgrading sites within Metropolis’s network, which expanded significantly following its recent acquisition of SP+. With access to over 4,200 parking facilities, the companies plan to select prime locations in high-density urban centers such as Los Angeles, San Francisco, and New York City.

Joby Aviation stated that this retrofit approach offers a distinct advantage over constructing standalone vertiports. By utilizing the top decks of existing parking garages, the partners can reduce upfront construction costs and navigate zoning requirements more efficiently. These sites will be designed to meet the Federal Aviation Administration’s (FAA) Engineering Brief 105A, which outlines the specific design standards for vertiport geometry, marking, and load-bearing capacity.

“For air taxis to deliver on their promise of seamless urban travel, they must connect directly with the existing ground transportation ecosystem. By leveraging existing parking infrastructure… we can maximize the value of those sites without needing to build infrastructure from scratch.”

, JoeBen Bevirt, Founder and CEO of Joby Aviation

Integration of AI Technology

Beyond physical infrastructure, the partnership emphasizes the integration of Metropolis’s proprietary technology. The company utilizes AI-powered computer vision to manage facility access and payments. In the context of air travel, this technology aims to facilitate a “drive-in, fly-out” experience.

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According to the release, cameras will recognize a passenger’s vehicle upon entry, automatically processing parking fees and initiating the check-in process for their flight. This system is intended to eliminate the need for physical tickets, gates, or kiosks, aligning with the industry’s push for a frictionless passenger experience.

“The real world is the next frontier for AI… We are taking the data and recognition capabilities we’ve built in our network and extending it to air travel, creating the seamless, personalized, and magical experience that is the foundation of the Recognition Economy.”

, Alex Israel, CEO of Metropolis Technologies

Immediate Rollout and Strategic Markets

While the construction of full vertiports is a longer-term project targeting 2026, the partnership includes immediate operational steps. Metropolis subsidiary Bags Inc. will begin providing VIP baggage handling services for Blade Urban Air Mobility, a partner of Joby Aviation, in New York City. This service will support flights between Manhattan and major airports such as JFK and Newark.

Los Angeles has been identified as a primary market for the initial vertiport rollout. The companies are currently evaluating downtown parking structures that can be adapted to support high-frequency air taxi operations. This focus on Los Angeles aligns with Joby’s broader strategy to establish a foothold in regions with high traffic congestion, where the time-saving value of eVTOL aircraft is most apparent.

AirPro News Analysis

We observe that this partnership represents a divergent strategy in the race for UAM infrastructure. While competitors like Archer Aviation have partnered with Atlantic Aviation to electrify existing private aviation terminals (FBOs), Joby is betting on bringing aircraft closer to the consumer’s daily commute via parking garages.

The “retrofit” model proposed by Joby and Metropolis may offer scalability advantages. Parking garages are ubiquitous in city centers, whereas private air terminals are typically located on the periphery at airports. If successful, this approach could allow Joby to penetrate dense urban cores more deeply than competitors relying solely on airport-based infrastructure.

However, we note that retrofitting parking decks presents its own engineering challenges, particularly regarding the structural reinforcement required to handle the weight and dynamic loads of landing aircraft, as well as the installation of high-voltage charging infrastructure in older buildings.

Frequently Asked Questions

When will the first vertiports be operational?
Joby Aviation and Metropolis are targeting the development of these sites to align with Joby’s commercial launch, which is currently projected for 2026.
Where will these vertiports be located?
The initial focus is on key US markets including Los Angeles, New York City, and the San Francisco Bay Area. The partnership aims to develop 25 sites in total.
How does the check-in process work?
Metropolis will use computer vision technology to recognize vehicles upon arrival, handling parking and flight check-in automatically without the need for paper tickets or standing in line.

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Photo Credit: Joby Aviation

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Vertical Aerospace Targets Full VX4 Transition Flight in Early 2026

Vertical Aerospace advances VX4 flight tests with 10 piloted flights completed; full transition now targeted for early 2026 amid regulatory updates.

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This article is based on an official press release from Vertical Aerospace and includes analysis based on publicly available financial filings.

Vertical Aerospace Updates VX4 Flight Test Progress; Full Transition Targeted for Early 2026

On December 19, 2025, Vertical Aerospace released a significant operational update regarding the flight testing of its full-scale VX4 prototype. According to the company, the engineering team has successfully completed 10 piloted test flights since receiving a “Permit to Fly” from the UK Civil Aviation Authority (CAA) in November. While the company reports expanding the majority of the flight envelope, the critical milestone of full piloted transition, switching completely from vertical hover to wing-borne cruise, has not yet been achieved.

The Bristol-based eVTOL (electric vertical take-off and landing) manufacturer stated that weather constraints and limited testing windows have pushed the target for full transition into early 2026. This update comes shortly after the company unveiled “Valo,” its production-intent aircraft, earlier this month.

VX4 Flight Testing Achievements

Since resuming flight activities on November 13, 2025, Vertical Aerospace reports that the VX4 prototype has undergone rigorous testing to validate its handling and safety systems. The press release highlights that the aircraft has successfully performed acceleration and deceleration maneuvers and tested various tilt positions for its rotors.

According to Vertical Aerospace, the Test-Flights campaign has achieved several specific technical milestones:

The testing program has successfully validated the in-flight deployment and stowing of rear propellers, propeller spin-up during wing-borne flight, and “prop-hold” functionality.

The company notes that the “majority of the transition envelope” has now been expanded, leaving only the final 10% of the tilt transition untested. The completion of this final phase is required to demonstrate the aircraft’s ability to fly purely on wing lift, a defining characteristic of viable eVTOL technology.

Regulatory Developments

Alongside the flight test updates, Vertical Aerospace announced a regulatory achievement involving the UK Civil Aviation Authority (CAA). The Regulations has granted the company new privileges allowing it to approve its own “Flight Conditions” and issue Permits to Fly for specific scenarios.

In the press release, the company framed this development as a signal of regulatory confidence in their design and engineering processes. This authorization is expected to streamline future testing phases by reducing the administrative lead time required for certain flight approvals.

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Strategic Context and Market Position

AirPro News Analysis: The VX4 vs. Valo Distinction

It is important for industry observers to distinguish between the aircraft currently undergoing testing and the product Vertical Aerospace intends to bring to market. The operational update refers specifically to the VX4 prototype, which serves as a testbed for data gathering. However, the commercial future of the company rests on “Valo,” the production model unveiled around December 10, 2025.

While the VX4 validates the core physics and control laws, Valo features a redesigned airframe, updated wing architecture, and an under-floor battery system. The delay in the VX4’s full transition means that critical aerodynamic data needed to finalize Valo’s Certification profile, targeted for 2028, will not be fully available until the prototype completes its envelope expansion in 2026.

AirPro News Analysis: Financial and Competitive Landscape

The delay of the full transition flight places Vertical Aerospace behind its primary United States competitors in terms of technical milestones. Competitors such as Joby Aviation and Archer Aviation successfully completed full piloted transition flights earlier in 2025. Furthermore, the European market saw a significant contraction earlier this year with the reported insolvency of Lilium in February 2025, highlighting the capital-intensive nature of the sector.

Financial-Results sustainability remains a key focus for Vertical Aerospace. According to the company’s Q3 2025 Business & Strategy Update, Vertical reported a cash position of approximately $117 million. Based on current burn rates, the company projects this capital will fund operations until mid-2026.

With certification slated for 2028, this creates a “funding gap” that the company will need to address. The shift of the transition milestone to 2026 may influence investor sentiment, as the market often looks to technical achievements as validation for further capital injection.

Frequently Asked Questions

What is the difference between the VX4 and Valo?
The VX4 is the current full-scale prototype used for flight testing and validation. Valo is the recently unveiled production-intent aircraft that Vertical Aerospace plans to manufacture commercially, featuring design improvements based on VX4 data.

When will Vertical Aerospace achieve full transition?
The company has rescheduled the full piloted transition flight, where the aircraft switches from vertical lift to wing-borne flight, for early 2026, citing weather and scheduling constraints.

What is the company’s current financial runway?
As of the Q3 2025 update, Vertical Aerospace holds approximately $117 million in cash, which is projected to sustain operations until mid-2026.

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Photo Credit: Vertical Aerospace

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Eve Air Mobility Completes First Flight of Full-Scale eVTOL Prototype

Eve Air Mobility conducted a successful first flight of its full-scale eVTOL prototype in Brazil, validating key systems ahead of 2027 certification.

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This article is based on an official press release from Eve Air Mobility.

Eve Air Mobility Successfully Completes First Flight of Full-Scale eVTOL Prototype

On December 19, 2025, Eve Air Mobility achieved a critical milestone in the development of its electric vertical take-off and landing (eVTOL) aircraft. The company, a subsidiary of Brazilian aerospace giant Embraer, successfully conducted the first flight of its full-scale prototype at the Embraer test facility in Gavião Peixoto, São Paulo, Brazil.

This uncrewed hover flight validates the fundamental architecture of the aircraft, which utilizes a “Lift + Cruise” configuration distinct from the tilt-rotor designs favored by some competitors. According to the company’s official statement, the test confirmed the functionality of the electric propulsion system and the 5th-generation fly-by-wire controls, performing exactly as computer models had predicted.

While Eve Air Mobility is entering the flight-test phase later than some of its primary rivals, the successful deployment of a full-scale prototype signals the company’s transition from design to execution. With a target Entry into Service (EIS) set for 2027, Eve is leveraging Embraer’s industrial backing to accelerate its Certification program.

Flight Details and Technical Validation

The test conducted in Gavião Peixoto was a dedicated hover flight. This specific profile is designed to test the vertical lift capabilities of the aircraft before attempting forward wing-borne flight. The prototype utilized eight dedicated vertical lift rotors to maintain a stable hover, allowing engineers to assess aerodynamic performance and control laws in real-world conditions.

Johann Bordais, CEO of Eve Air Mobility, emphasized the significance of the event in a statement released by the company:

“Today, Eve flew… This flight validates our plan, which has been executed with precision to deliver the best solution for the market.”

Following this successful hover test, the company plans to expand the flight envelope throughout 2026. This will involve transitioning from vertical lift to forward flight, powered by the rear pusher propeller, and testing the aircraft’s fixed wing for cruise efficiency.

Aircraft Specifications: The “Eve-100”

The prototype flown represents the configuration intended for commercial certification. Unlike “tilt-rotor” designs that rotate propellers to switch between lift and cruise modes, Eve has opted for a separated “Lift + Cruise” architecture. This design choice prioritizes mechanical simplicity and potentially lower maintenance costs.

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According to technical specifications released by Eve Air Mobility, the aircraft features:

  • Propulsion: 100% electric, battery-powered system.
  • Configuration: Eight fixed rotors for vertical lift and one pusher propeller for cruise.
  • Range: 60 miles (100 km), optimized for urban commuting.
  • Capacity: Initially designed for one pilot and four passengers, with future autonomous readiness for up to six passengers.
  • Noise Profile: Engineered to be up to 90% quieter than equivalent Helicopters.

AirPro News Analysis: The Strategic Landscape

At AirPro News, we observe that Eve’s successful first flight places it in a unique position within the “race to market.” While competitors like Joby Aviation and Archer Aviation have already logged significant flight hours with full-scale prototypes, including transition flights, Eve’s strategy appears to be one of deliberate, industrial-scale preparation over speed.

The “Lift + Cruise” design philosophy suggests a focus on reliability and operating economics. By avoiding the complex tilting mechanisms found in competitor aircraft, Eve may offer operators a vehicle with fewer moving parts and lower direct maintenance costs. Furthermore, Eve’s relationship with Embraer provides immediate access to a global service and support network, a logistical hurdle that independent Startups must build from scratch.

Despite being arguably the “tortoise” in terms of flight testing timelines, Eve holds the industry’s largest backlog of Letters of Intent (LoI), totaling nearly 3,000 aircraft. This massive order book indicates strong market confidence in Embraer’s ability to deliver a certifiable product.

Future Roadmap: Certification and Service

Looking ahead, Eve Air Mobility has outlined a rigorous schedule for the next two years. The company intends to build five additional conforming prototypes in 2026 to accelerate data collection. These aircraft will be used to accumulate the hundreds of flight hours required for certification authorities.

Luiz Valentini, CTO of Eve, noted the disciplined approach to the upcoming testing phase:

“The prototype behaved as predicted by our models… We will expand the envelope and progress toward transition to wingborne flight in a disciplined manner.”

The company is targeting Type Certification from Brazil’s ANAC in 2027, with concurrent validation sought from the FAA (USA) and EASA (Europe). Commercial deliveries are scheduled to begin immediately following certification.

Frequently Asked Questions

When will Eve’s eVTOL enter service?
Eve Air Mobility targets Entry into Service (EIS) in 2027, following certification by aviation authorities.
What is the range of the aircraft?
The aircraft is designed for a range of 60 miles (100 km), making it suitable for cross-city trips and airport transfers.
Is the aircraft autonomous?
The initial version will be piloted (1 pilot + 4 passengers), but the design is “autonomous-ready” for future pilotless operations carrying up to 6 passengers.

Sources

Photo Credit: Embraer

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