Embraer's Eve to raise funds as soon as July for flying taxi certification

Electric aircraft maker Eve expects to raise funds as early as next month to finance operations through the certification of its flying taxi in 2026, CE Johann Bordais told Reuters. Eve, which is majority owned by Brazilian planemaker Embraer, has enough cash and borrowing facilities to fund operations through 2025, but the company forecasts certification and entry into service in 2026. Eve is one of numerous startups worldwide developing battery-powered aircraft that can take off and land vertically to ferry travelers on short city trips. Its orders come from clients in countries such as Brazil, the United States, India and France. Among companies to have signed letters of intention to purchase Eve's eVTOL are U.S. carrier United Airlines, charter firms Global Crossing and Air X, as well as aircraft lessor Azorra. Bordais did not say how much Eve wants to raise or what form the fundraising may take. Eve debuted on the New York Stock Exchange in May 2022, raising around $400m to develop and produce its eVTOL aircraft, a project initially slated to cost $540m. It later secured an additional 490m-real ($92m) facility from Brazilian state development bank BNDES. By the end of the first quarter this year, Eve's total liquidity stood at $280m.<br/>