Eve, the Brazilian company that currently has an order book worth $5 billion, could produce electric planes on several continents. Shares of aircraft manufacturer Embraer rose more than 16 percent to over 23 reals in Brazil and more than 15 percent to over 16 dollars on Wall Street after the company announced that its electric aircraft subsidiary Eve will be listed on the New York Stock Exchange (NYSE).
The Brazilian group has already agreed with NYSE-listed special purpose investment company Zanite (SPAC) to merge Eve into the latter company on the North American exchange. In addition to the merger, the transaction, which is expected to increase the value of the company to USD 2.9 billion, will also include the entry of additional financial and strategic investors. The latter include BAE Systems and Rolls-Royce.
Trading in Eve’s shares is expected to start in the second quarter of next year, after the deal closes. The company plans to use the $512 million of cash raised through capital market operations to invest in the development of flying taxis in the meantime. The Embraer subsidiary currently has an order book of more than $5 billion, with customers including helicopter operators, lessors and ride-sharing companies.
Embraer will retain more than 80 percent of Eve’s shareholding following the listing. Based on this, equity analysts at Itau BBA believe the transaction will exceed their forecasts, as Eve’s valuation of $2.9 billion represents an incremental value of $12 per share per Embraer share listed on the US stock exchange, compared to their projections of only $5.7.
Francisco Gomes Neto, CEO of Embraer, said in an interview that Eve wanted to deliver to different continents, so production would be in several locations. Within ten years, they are aiming for $4.5 billion in revenue and a 15 percent share of the global urban air mobility market. Embraer will provide the infrastructure for Eve, including engineers, test tracks and simulation equipment for the projects.
More articles you may be interested in...
Drones News & Articles
The hydrogen-powered military drone is launched
Drones News & Articles
Delivery by drones in 2025
Picture this: you’re sipping your morning coffee, glancing out the window, when a faint buzz cuts through the air. A sleek, winged machine hovers above your backyard, drops a package with pinpoint accuracy, and zips off into the horizon. No delivery van, no traffic jams just a drone doing its...>>>...READ MORE
EVTOL & VTOL News & Articles
Archer Aviation and Palantir Technologies unite to forge the AI-driven future of aviation
On March 13, 2025, a groundbreaking collaboration was unveiled in Santa Clara, California, as Archer Aviation Inc. (NYSE: ACHR) and...>>>...READ MORE
News & Articles Propulsion-Fuel
Evolution and Implications of Battery Charging Technology for evtol and Electric Aircraft in 2025
Additional aircraft News & Articles
Bio-inspired drone technology: pioneering Mars exploration
EVTOL & VTOL News & Articles
Evolution of eVTOLs and electric aircraft in 2025: A comprehensive analysis
EVTOL & VTOL News & Articles
Joby and Virgin Atlantic announce groundbreaking partnership
News & Articles Points of interest
Artificial intelligence outperforms human pilots in simulated air combat
Artificial intelligence (AI) is rapidly transforming military technology, with significant advancements in autonomous combat systems...>>>...READ MORE
moreFlying Cars News & Articles
Will we have flying cars before fully self-driving cars ?
EVTOL & VTOL News & Articles
EHang: Record Growth and Breakthrough in Urban Air Mobility – A Detailed Analysis of 2024 Financial Results
EHang Holdings Limited (Nasdaq: EH), the world’s leading Urban Air Mobility (UAM) technology platform company, reported exceptional financial and operational results for the fourth quarter (Q4) and fiscal year (FY) 2024. The company’s performance reflects significant progress in scaling production, securing regulatory approvals, and expanding...>>>...READ MORE
Electric airplane News & Articles
The technological evolution of electric aircraft: what can we expect by 2025 ?
News & Articles Propulsion-Fuel
Electric motor development: new materials and efficiency-enhancing technologies
Drones News & Articles
Drones and artificial intelligence: a new era of agricultural decision-making
Picture this: a farmer steps out onto his porch at dawn, coffee in hand, and...>>>...READ MORE
moreDrones News & Articles
BYD and DJI create a car with a drone
BYD, in collaboration with drone industry leader DJI, has unveiled an innovative feature that integrates a drone directly into an electric vehicle, offering a new dimension of driving experience. This breakthrough technology, known as the Ling Yuan system, allows drivers and passengers to track their journey from the air, enhancing...>>>...READ MORE