Development Bank grants BRL 500M for flying car production
Brazil’s Development Bank (BNDES) has approved funding of BRL 500 million for the development of flying cars. The funds will go to Eve Air Mobility, a subsidiary of the country’s plane maker Embraer, which should set up a production unit in Taubaté, São Paulo.
The company is expected to produce up to 480 aircraft a year, with eight rotors for vertical flight each and fixed wings for cruising, as well as an electric propeller powered by twin electric motors. The first full-scale prototype was launched in July this year.
The eVTOL (electric vertical take-off and landing vehicle) prototype has been through a series of tests to evaluate operation and performance, from flight capacity to safety features.
Eve CEO Johann Bordais said the unit in Taubaté will be the first of its kind in Brazil and will be powered by clean, renewable energy.
BNDES President Aloizio Mercadante stressed that one of the goals is to “support innovative projects in Brazilian industry, such as air mobility.” The bank’s Mais Inovação (“More Innovation”) Program, dedicated to financing innovative projects, has approved BRL 8 billion in loans since 2023.
