Investors bet on environmentally friendly urban air travel

Electric vertical take-off landing aircraft maker Eve is planning to go public. Being part of Brazilian planemaker Embraer, they are going public as investors are betting on environmental-friendly urban air travel. Eve Urban Air Mobility Solutions is set to produce its first electric vertical take-off in partnership with Kenn Ricci.

Airlines Back Embraer eVTOL Subsidiary's Plans to Go Public | Air Transport  News: Aviation International News
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Kenn Ricci, CEO of Zanite Acquisition Corp orders 1,735 Eve’s eVTOL aircraft in total. The orders are amounted to roughly $5 billion and expected to be delivered by 2026. In the partnership with Zanite, Eve will be a wholly-owned subsidiary of Zanite. In the second quarter of 2022 renamed to be Eve Holdings Co., the company is going to go public with New York Stock Exchange under “EVEX” and “EVEXW” after the transaction is complete.

Also as the announcement of going public comes out, two airline companies came forward with their investments. Republic Airways and Skywest committed to a future of 100eVTOL purchases. A Florida-based commercial aircraft lessor specializing in Embraer regional jets, Azorra also signed up for 200eVTOL from Eve.

Co-CEO of Eve, Andre Stein said, “Today almost half of the commercial aircraft are leased and we believe leasing companies will also play an active role in Urban Air Mobility, allowing operators to remain asset-light. Azorra has a history of helping markets grow and we are excited to join them in this new frontier for aviation,”

Cost-effective sustainable aircraft

Embraer’s Defense & Security team studied the BAE Systems exploring various applications of defense Eve’s EVTOL. The study “builds on Eve’s development for the urban air mobility market and will look at how the aircraft could provide cost-effective, sustainable, and adaptable capability as a defense variant.”

Furthermore, Embraer’s innovative technology is expected to accelerate sustainable and new innovations combined with “extensive defense engineering and systems integration experience.” As a part of a joint study agreement, both engineers from BAE Systems’ Air sector in Lancashire and Embraer’s Defense and Security team will be working together. The study will be on exploring how “defense variant could be used for a range of applications such as personnel transportation, surveillance and reconnaissance, disaster relief and humanitarian response.”

Some of the other aerospace companies which are working on electric planes are Archer Aviation, Vertical Aerospace, and San Fransico-based Wisk. Others include German air shuttle startup Lilium and Airbus. Investors are going ahead and working on the electric planes, during the time when automobile industry is shifting towards electric vehicles.