Eve is listing on the NYSE in 2022 in a deal valuing the business at US$2.9 billion. Photo: Eve
Embraer’s urban air mobility subsidiary, Eve, will list on the New York Stock Exchange (NYSE) next year. The listing will raise capital to further develop and commercialize Eve’s product line. After the listing, Embraer will remain a majority shareholder, retaining an 80% equity stake in the business.
Set up in 2017, Eve provides a comprehensive urban air mobility package spanning eVTOL design and production, service and support, fleet operations, and urban air traffic management.Eve has an order pipeline valued at approximately US$5.0 billion. This comprises 1,735 vehicle orders, via non-binding letters of intent, from 17 launch customers, including fixed-wing and helicopter operators, aircraft lessors, and ride-sharing platform partners.
“We believe that the urban air mobility market has enormous potential to expand in the coming years based on an efficient, zero-emissions transport proposition and that with this business combination, Eve is very well positioned to become one of the major players in this segment,” said Francisco Gomes Neto, President and CEO of Embraer.
The relationship with Embraer is widely viewed as a key competitive advantage for Eve. Embraer has contributed its urban air mobility-related assets, employees, and intellectual property to Eve. In addition, Embraer has granted Eve a royalty-free license to Embraer’s background intellectual property for use within the urban air mobility market.
Embraer also allows Eve access to thousands of skilled employees on a flexible, first priority basis and use of Embraer’s global infrastructure on preferred terms. The relationship provides Eve with significant cost and execution advantages relative to other urban air mobility participants. Simple Flying - link - Andrew Curran - link - more like this - link
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