Eve Air Mobility
Data verified as of Jul 17, 2026
Summary
Eve Air Mobility (Eve Holding) is the Embraer-backed eVTOL developer, spun out of the EmbraerX innovation arm in 2020 and NYSE-listed since a 2022 SPAC merger, with Brazilian BDRs on the B3 since 2025. Its lift-plus-cruise aircraft — eight fixed-pitch lift rotors, a pusher propeller, Embraer fifth-generation fly-by-wire, four passengers plus a pilot, ~100 km range — flew its full-scale engineering prototype for the first time in December 2025 and completed a 59-flight hover/low-speed test block in May 2026, with transition flights slated for summer 2026. Eve holds the industry's largest order pipeline: ~2,700 aircraft (~$14B) in non-binding LOIs from 28 customers plus ~$500M in binding orders from Revo (São Paulo) and Japan's AirX. ANAC type certification and entry into service are targeted for 2028 (revised from 2027 in May 2026), backed by a record $577.7M in liquidity the company says funds it through certification, and a Taubaté, Brazil plant scaling to 480 aircraft/year. It also sells Vector, its urban air-traffic-management software, to 14 customers.
Main Products
What's Next
First transition flights of the engineering prototype
Partial transition flights at ~30 kt are slated for summer 2026, building toward full wingborne flight above 85 kt by the end of the year — the decisive aerodynamic milestone for the lift-plus-cruise design, confirmed on track at Farnborough in July 2026.
Start production of six certification-conforming prototypes
Production of six conforming prototypes begins later in 2026 with the first assembly completed around year-end and roughly a one-per-month cadence thereafter; the first piloted flight is targeted for mid-2027, opening the ~12-month conforming flight-test campaign ANAC requires.
ANAC type certification and entry into service
Type certification by Brazil's ANAC and entry into service are targeted for 2028 (revised from 2027 in May 2026). Launch operator Revo plans São Paulo operations, and the Taubaté plant's first 120-aircraft/year module must be ready to support initial deliveries.
Track Record
0 of 1 announced date hit · 1 slipped
ANAC type certification and entry into service
Target 2027 · Resolved May 7, 2026
In May 2026, alongside completion of the hover/low-speed test block, Eve moved its ANAC type-certification and entry-into-service target from 2027 to 2028, citing the ~12 months of conforming-vehicle flight testing still required.
Operations & Revenue
Eve is deep in its engineering-prototype flight-test campaign: 59 flights through the May 2026 completion of the hover/low-speed block, with partial transition flights slated for summer 2026, full wingborne transitions later in 2026, and production of six certification-conforming prototypes starting later this year (first piloted flight targeted mid-2027). ANAC type certification and entry into service moved from 2027 to 2028. The company reported record liquidity of $577.7M at Q1 2026 and says it is funded through certification — notable resilience in a sector where Textron, Hyundai, and Airbus have paused eVTOL programs.
Revenue Streams
The core future business: ~2,700 aircraft in non-binding LOIs (~$14B) across fixed-wing operators, helicopter operators, lessors, and ride-share platforms, plus binding deals with Revo ($250M, up to 50 aircraft) and AirX (2 firm + 48 options), with deliveries from 2028–2029.
SaaS air-traffic-management platform for eVTOL fleet operators, vertiport operators, and air-navigation service providers — 14 customers signed, moving toward an operational trial version.
Key Metrics
Employees
~200 direct (plus 800+ engineers contracted from Embraer)
Est. Annual Revenue
Pre-revenue during aircraft development. Q1 2026: net loss $68.8M; FY2025: net loss $224.3M; 2026 cash-burn guidance $225–275M, with liquidity supporting operations through 2028
Order Pipeline
~2,700 aircraft / ~$14B in non-binding LOIs from 28 customers + ~$500M binding (Revo, AirX)
Liquidity
$441.1M cash + investments; $577.7M total liquidity (record, Q1 2026) — funded through 2028
Timeline
By May 2026 the prototype completes its hover/low-speed block — 59 flights, 2h27m airtime, 100+ test points — and Eve moves its ANAC type-certification and entry-into-service target from 2027 to 2028. At Farnborough in July, the company confirms partial transition flights for the summer, full transitions later in 2026, and the start of production of six conforming prototypes.
In August 2025 Eve raises $230M from BNDESPAR, Embraer, and institutional investors and dual-lists BDRs on Brazil's B3 (EVEB31), taking total capital raised past $1B. On December 19, the full-scale engineering prototype completes its first flight — an uncrewed hover at Embraer's Gavião Peixoto facility validating fly-by-wire controls and the eight lift rotors.
Brazil's development bank BNDES lends Eve $88M under the Mais Inovação program to build its first eVTOL factory in Taubaté, São Paulo — modular capacity scaling to 480 aircraft/year — extending a $92.5M credit line from 2022. Eve also raises $94M in new equity during 2024.
Eve closes its business combination with Zanite Acquisition Corp. on May 9, 2022, listing on the NYSE as EVEX at a ~$2.9B valuation with $377M in gross proceeds. In September, United Airlines invests $15M and signs a conditional purchase agreement for 200 aircraft plus 200 options.
Funding
Cumulative disclosed raise · dated rounds