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Embraer announces major new investment in Eve Air Mobility

Embraer has announced its plan to invest approximately USD390 million and hire 900 additional employees in the current year, including research and development activities for new technologies, such as those that will be used in eVTOLs (electric vertical take-off and landing vehicles), the expansion of aeronautical services, including the conversion of passenger aircraft into cargo aircraft, defence and security, efficiency improvement projects, and the expansion of industrial activities.

“Embraer begins a new phase of growth based on efficiency and innovation. We are focused on capturing our full potential in the different segments in which we operate towards more sustainable aviation,” said Francisco Gomes Neto, President and CEO of Embraer. “And through partnerships with the public and private sector, we are expanding sales, opening new markets and investing in new technologies, which makes it possible to increase the export of high-value-added products and create thousands of highly qualified jobs in Brazil.”

In March this year Eve Air Mobility, Embraer’s eVTOL company, reported a loss in 2023 of  USD127.7 million, vs. $174.0 million the year before; R&D expenses reached USD105.6 million.

According to the company’s financial report: “In 2023, cash consumption was USD94.7 million and USD59.9 million in 2022 – this compares with a range of USD130 to USD150 million we had expected to consume in the program and other supporting activities throughout the year, thanks to our focus on cost control, the deferral of certain supplier contracts payments, and continued synergy gains with Embraer.”

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