Eve, Embraer company that makes “flying car”, loses US$ 36.7 million in the 3rd quarter

Eve Air Mobility, Embraer’s “flying car” company, posted a loss of US$36.7 million in the third quarter, an increase of almost 10 times compared to the loss of the same period in 2021, of US$3.8 million.

The 410% increase in spending on research and development for electric vertical takeoff and landing aircraft (eVTOL), which totaled US$ 14.4 million, explains part of the result, according to the company’s management, which has not yet has recipes.

In a conference call held yesterday, the co-president of Eve, André Duarte Stein, said that the company continues to develop flying cars and continues to carry out simulations, including one recently carried out in Chicago, where the vehicle made in 15 minutes a journey that would take up to 90 minutes by car. “This demonstrates the potential for urban mobility in large metropolitan areas,” said Stein.

With the hires to develop the eVTOL, Eve ended the third quarter with 450 people. Eve ended September debt free.

In the third quarter of this year, Eve consumed US$ 17 million in cash, an amount well above the US$ 2.4 million spent in the same period of 2021. The company highlights that it received an injection of resources of US$ 15 million from United Airlines in September.

Source: CNN Brasil

You may also like