Embraer’s Eve chooses startup from southern Brazil to launch ‘flying car’ in Latin America

By Sergio Ripardo

One of the companies on investor radar in 2023, Eve (EVEX), an electric aircraft company controlled by Embraer (EMBR3), closed an agreement for the sale of 40 eVTOLs (electric flying vehicle) with the air mobility startup FlyBis, headquartered in the city of Caxias do Sul in the State of Rio Grande do Sul.

With the new agreement, Eve’s backlog (backlog of firm orders) reaches 2,770 units, involving more than 20 companies in the sector. Eve’s forecast is to start commercial operations at the end of 2025, after obtaining the certification of the aircraft.

A letter of intent to purchase was signed between the two companies, according to a statement published this morning by Eve, whose shares are traded on the New York Stock Exchange. The agreement provides for FlyBis’ collaboration in the development of eVTOL operations in Brazil and South America.

“This new collaboration with FlyBIS will allow us to expand the future of air mobility in the southern region of Brazil and in other countries in South America”, said Andre Stein, co-CEO of Eve, in the note.

The executive added that the region has several areas with an intense flow of tourists that can benefit from operations with so-called “flying cars”.

According to Eve, after starting operations in the south of Brazil, FlyBIS plans to expand its operations in neighboring countries. The Rio Grande do Sul startup is backed by Brave Aviation, whose current fleet includes Embraer Phenom 100 jets and other aircraft.

PROCEDURE

The application for certification of the Electric Vertical Take-off and Landing (eVTOL) aircraft EVE-100 began processing at ANAC (National Civil Aviation Agency) in February this year.

It was the first request received and validated by the regulatory agency to obtain a type certificate for an aircraft with vertical take-off and landing characteristics.

The validation of the request by ANAC marked the beginning of the type certification process, the first of a series of steps to verify the aircraft’s safety requirements, including tests and evaluations of all technical aspects relevant to guaranteeing safety.

At an early stage of development, the EVE-100 was designed to carry four passengers with a pilot on board. The eVTOL has eight rotors (rotating part) responsible for vertical landing and takeoff and two rotors responsible for horizontal displacement. The aircraft has a fully electric engine and operation, with low noise and zero carbon emissions, according to Eve.

In November 2021, Eve performed the first simulated flight in Brazil, connecting Barra da Tijuca to Tom Jobim International Airport (Galeão).

Eve has been listed on the New York Stock Exchange since May of this year, having lost 25% this year, with a market value of around US$2 billion.

* Brazilian journalist with more than 25 years of experience, having worked on national websites such as Folha and R7, covering economic indicators, financial markets and public companies.

With information from Bloomberg Línea