Eve Holding, Inc. (“Eve”) (NYSE: EVEX; EVEXW) announced today at the Farnborough Airshow a non-binding Letter of Intent (“LOI”) with Embraer and BAE Systems to explore the potential order of up to 150 electric vertical take-off and landing (eVTOL) vehicles with the aim of examining the aircraft application for the defence and security market. In a separate announcement, BAE Systems and Embraer signed a Memorandum of Understanding (“MoU”) at Farnborough International Airshow to potentially form a joint venture to collaboratively develop an innovative defence eVTOL variant using Eve’s platform.
“Teams from BAE Systems and Embraer will continue working together to explore how the aircraft, designed for the urban mobility market, can provide cost-effective, sustainable, and adaptable capability as a defense variant,” said Jackson Schneider, President and CEO of Embraer Defense & Security.
“Our customers’ operating environment is increasingly complex and eVTOL is just one example of how we’re looking at emerging technologies, including those from the commercial market. We are exploring how we can adapt these solutions to bring vital operational capability to our customers quickly and at a lower cost – whilst also supporting environmental and sustainability goals,” commented Ian Muldowney, Chief Operating Officer of BAE Systems Air.
In December 2021, Embraer and BAE Systems disclosed plans to collaborate on developing Eve’s eVTOL as a potential defence variant. This agreement reinforces the trust of the leading aerospace organisations in Eve’s vehicle and its adaptability for purposes other than urban air mobility.
Andre Stein, Co-CEO of Eve, added: “We are thrilled that Embraer and BAE Systems have chosen Eve as their platform for this collaboration. Our eVTOL can be adapted to meet various essential applications in this market, such as humanitarian response and disaster relief. This collaboration also indicates that the defence market can be more sustainable and at the same time allows Eve to remain focused on exploring the Urban Air Mobility market.”
The potential order will be added to Eve’s current backlog of 1,910 eVTOLS, the largest within the Advanced Air Mobility (AAM) industry.
Eve is dedicated to accelerating the Urban Air Mobility ecosystem. Benefitting from a start-up mindset, backed by Embraer S.A.’s more than 50-year history of aerospace expertise, and with a singular focus, Eve is taking a holistic approach to progressing the UAM ecosystem, with an advanced eVTOL project, a comprehensive global services and support network and a unique air traffic management solution. Since May 10, 2022, Eve is listed on the New York Stock Exchange where its shares of common stock and public warrants trade under the tickers “EVEX” and “EVEXW”. For more information, please visit www.eveairmobility.com.
A global aerospace company headquartered in Brazil, Embraer has businesses in Commercial and Executive, Defense & Security and Agricultural Aviation. The company designs, develops, manufactures, and markets aircraft and systems, providing Services & Support to customers after-sales.
Since it was founded in 1969, Embraer has delivered more than 8,000 aircraft. On average, about every 10 seconds an aircraft manufactured by Embraer takes off somewhere in the world, transporting over 145 million passengers a year.
Embraer is the leading manufacturer of commercial jets up to 150 seats and the main exporter of high value-added goods in Brazil. The company maintains industrial units, offices, service, and parts distribution centers, among other activities, across the Americas, Africa, Asia and Europe.
About BAE Systems
BAE Systems provides some of the world’s most advanced, technology-led defence, aerospace and security solutions and employs a skilled workforce of some 89,600 people in more than 40 countries. Working with customers and local partners, we develop technology that helps to save lives, protect borders and people, strengthen nations, and keep critical information and infrastructure secure.