Embraer's electric aircraft maker Eve 'on track' to start service in 2026

Electric aircraft maker Eve Holding is "on track" to meet its goal of starting commercial operations in 2026, an executive said on Friday, and getting its aircraft certificated is the most immediate target. Eve's vice president of services & fleet operations, Luiz Mauad, told Reuters in an interview he expects authorities in 2023 to make progress on establishing rules for the sector, which would pave the way for certification "in a few years". Eve, controlled by Brazilian planemaker Embraer, last year launched a process for Brazil's civil aviation regulator to certify its electric vertical take-off and landing (eVTOL) aircraft, which has already amassed a backlog of over 2,700 orders prior to the start of production. "Of course entering service is an important milestone, but before that comes the certification. And certifying an airplane, even a traditional one, is always a huge challenge," Mauad said ahead of the MRO Latin America event in Buenos Aires. Eve is confident about the "robust project," which is backed by Embraer's expertise, said Mauad, reiterating the goal of starting operations in 2026. He said Eve already had the cash needed for the project, initially slated to cost $540m, following a listing in the United States and additional funding from Brazil's state development bank BNDES. Eve debuted on the New York Stock Exchange in May 2022 after combining its business with Zanite Acquisition Corp, raising around $400m to manufacture its flying taxis. BNDES later announced it would grant Eve an additional 490m reais ($94.47m).<br/>