Charles Alcock is managing editor of the AIN Media Group, having rejoined the company in 2019. He has been an aviation journalist since 1986, and previously worked for AIN from 1990 to 2017, most recently as editor-in-chief. His main focus is on covering new aviation technology and business models, as well as international news.
Having been raised in the London area, Alcock studied at the University of Manchester in the UK and earned an honors degree in Politics and Modern History. He speaks English and French, and some German.

Managing Editor

Charles Alcock

Brazil’s national development bank, BNDES, has agreed to an $88 million loan for Eve Air Mobility to support work on the company’s eVTOL aircraft production line at Taubaté in São Paulo state. The funding, announced on October 15, follows an earlier $92.5 million line of credit approved by the government-backed bank in 2022 to support development of the four-passenger vehicle that the Embraer offshoot is looking to bring to market in 2026.
According to Eve, which is headquartered in Melbourne, Florida, it expects to achieve an eventual rate of production of up to 480 aircraft per year. The company said it plans to expand its manufacturing capacity gradually in increments of 120 units, based on reported letters of intent for 2,900 eVTOL aircraft from 30 customers in 13 countries.
Having selected all its primary suppliers, Eve rolled out its <a href="https://www.ainonline.com/aviation-news/futureflight/2024-07-22/eve-adds-funding-and-partners-evtol-aircraft-program">first full-scale prototype in July</a>. The company, which is listed on the New York Stock Exchange, is aiming to start remotely piloted flight tests later this year.
“This financing strengthens Eve’s robust cash position by adding long-term financing aligned with our company profile,” said Eve’s CFO, Eduardo Couto. “As we advance our eVTOL program development and manufacturing efforts, our focus remains on delivering long-term value for our shareholders with an optimal capital structure mixing equity and debt.”
According to BNDES president Aloizio Mercadante, the further support for Eve is part of the bank’s Mais Inovação innovation strategy through which the administration of Brazilian President Lula da Silva is looking to stimulate new technology initiatives, including advanced air mobility. The bank’s Plano Mais Produção unit is focused on investments in innovation aimed at advances in urban mobility and decarbonization.

Issues regarding financing of aircraft; aviation insurance; tax issues for aircraft operators; new companies and people in the aviation financing and insurance industries.

Brazilian State Bank Funds Eve Air Mobility's eVTOL Aircraft Factory

Embraer offshoot will receive a further loan of $88 million 

The Brazilian government's national development bank, BNDES, is providing further soft loans to support Eve Air Mobility's plans to manufacture eVTOL aircraft.

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In this article

Eve Air Mobility

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