Embraer's Eve vows to spend cautiously, eyes 2028 'flying car' certification
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Employees stand near the full-scale prototype of electric vertical take-off and landing (eVTOL) aircraft developed by Eve Air Mobility, an Embraer group company, as it is presented for the first time in Gaviao Peixoto, Brazil July 3, 2024. REUTERS/Amanda
By Gabriel Araujo
SAO JOSE DOS CAMPOS, Brazil, June 12 (Reuters) - Embraer-controlled electric aircraft maker Eve vowed on Friday to spend money in a cautious manner as it eyes a 2028 certification for its electric vertical takeoff and landing (eVTOL) vehicle.
• Eve believes it has enough cash to support operations until 2028, CEO Johann Bordais told reporters, with a cash position that stood at $441 million in the first quarter.
• Eve expects 2026 cash consumption to be at the lower part of its $225 million-$275 million guidance, Bordais said.
• Eve recently pushed back its certification timeline to 2028 from 2027, after slipping previously from an initial 2026 target.
• The head of Brazil's aviation regulator ANAC told Reuters earlier this week the time frame was realistic, as Eve's tests have been successful.
(Reporting by Gabriel Araujo)
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