Eve Air Mobility has advanced its mission to revolutionize urban air mobility, revealing an agreement with the Export-Import Bank of the United States (EXIM Bank) and the Private Export Funding Corporation (PEFCO) to provide financing for expenses with U.S. suppliers working on Eve’s electric Vehicle Take-Off and Landing (eVTOL) program.
The company will use the funding to procure batteries and engineering services from its U.S. supplier, BAE Systems, during Eve’s eVTOL aircraft development and test phase.
This agreement with the EXIM Bank is an essential step in the continuous de-risking of Eve’s program, bringing new funding sources with the support of the U.S. Export Credit Agency (EXIM Bank) to finance expenses with critical U.S. suppliers. The financing provides additional support during the development and testing phases, ensuring greater participation by U.S. suppliers in Eve’s eVTOL program.
“We are incredibly proud to partner with EXIM Bank to offer this innovative financing solution,” said Eduardo Couto, chief financial officer at Eve Air Mobility. “This agreement underscores EXIM Bank’s confidence in Eve’s business model and the strong future of urban air mobility. It will empower Eve’s U.S. supply chain by providing critical financial flexibility, accelerating the adoption of sustainable air travel globally.”
BAE Systems will supply its battery systems for integration into Eve’s eVTOL aircraft, ensuring Eve’s aircraft are equipped with high-performance, reliable, and safe energy storage solutions, crucial for efficient and sustainable urban air mobility operations.
Including BAE Systems’ batteries as part of the overall Eve eVTOL sale and export package streamlines the procurement process for international buyers, offering a comprehensive, integrated solution.
