Embraer's Eve vows to spend cautiously, eyes 2028 'flying car' certification
Embraer's Eve vows to spend cautiously, eyes 2028 'flying car' certification By Gabriel Araujo
SAO JOSE DOS CAMPOS, Brazil, June 12 (Reuters) - Embraer-controlled EMBJ3.SA electric aircraft maker Eve EVEX.N vowed on Friday to spend money in a cautious manner as it eyes a 2028 certification for its electric vertical takeoff and landing (eVTOL) vehicle.
Eve believes it has enough cash to support operations until 2028, CEO Johann Bordais told reporters, with a cash position that stood at $441 million in the first quarter.
Eve expects 2026 cash consumption to be at the lower part of its $225 million-$275 million guidance, Bordais said.
Eve recently pushed back its certification timeline to 2028 from 2027, after slipping previously from an initial 2026 target.
The head of Brazil's aviation regulator ANAC told Reuters earlier this week the time frame was realistic, as Eve's tests have been successful.
(Reporting by Gabriel Araujo)
((Gabriel.Araujo2@thomsonreuters.com; +55 11 5047-3352;))
Recent news on Embraer
See all newsUS Transportation Secretary meeting with Boeing, GE CEOs on aircraft certification reform efforts (updated)
Japan Airlines orders up to 26 Embraer jets for regional arm
Brazil's Embraer posts 6% rise in third-quarter deliveries
Embraer, Mahindra choose Nagpur for potential C-390 assembly line in India
Embraer says GPS instability reports affect some aircraft, including E2 jets (updated)