Eve Air Mobility has secured an $88 million loan from Brazil’s National Development Bank (BNDES) to fund its eVTOL aircraft production facility in Taubaté, São Paulo.
The new facility will be Eve’s first eVTOL production site in Brazil, and will be powered entirely by renewable energy.
This financing is part of the BNDES Mais Inovação program, which supports innovation in Brazilian industries, particularly in sustainable urban mobility solutions.
“We plan to begin our eVTOL production with 120 aircraft annually,” said Antonio Carmesini, VP of Industrialization at Eve Air Mobility. “This manufacturing plant, which will be within one of Embraer’s existing units in Brazil, will allow us to expand production up to 480 aircraft per year. We plan this expansion according to the market scalability and customer needs.”
In terms of location, Carmesini noted the strategic importance of the site’s proximity to key transport infrastructure: “Our plant benefits from an excellent logistical location, with easy access to highways and railways, as the nature of these aircraft, given their shorter range, demands different logistics for delivery compared to conventional aircraft.”
Eve’s manufacturing plans could eventually expand beyond Brazil, as Carmesini explained: “This is an initial plant, as we may need to invest in another one in the future… it may not be even in Brazil, but strategically located elsewhere.”
The push for technological innovation in Brazil
The facility’s development follows a successful partnership with BNDES, which had previously provided a $92.5 million credit line to support Eve’s eVTOL development program in 2022.
BNDES’ funding comes as part of a broader push to support technological innovation in Brazil, with the bank emphasising its role in enabling companies like Eve to enhance their competitiveness globally.
“The financing reinforces the commitment of President Lula’s government to support innovative projects in Brazilian industry, such as air mobility, which uses high technological intensity,” said the bank’s President, Aloizio Mercadante.
This investment strengthens Eve’s position in the eVTOL market, with a backlog of 2,900 aircraft on order from 30 customers across 13 countries, representing a potential $14.5 billion in sales revenue.
