Eve secures $94M funding for eVTOL aircraft set for market debut in 2026

On July 2, Archer Aviation, another eVTOL developer, revealed that Stellantis had provided an additional $55 million in funding. This follows Stellantis' earlier purchase of 8.3 million shares and a previous investment of $110 million in 2023.

Archer noted that the new funding was contingent upon achieving a transition flight with its Midnight eVTOL prototype on June 12. Stellantis is actively involved in developing manufacturing infrastructure for Archer's vehicle slated for service entry in 2025.

Eve is currently assembling its first full-scale eVTOL prototype at a facility in Taubaté, São Paulo state, Brazil, working closely with Embraer. In June, Eve appointed more suppliers for components like windows and fuselage sections.

"We appreciate the confidence that these investors are placing in Eve," said Eduardo Couto, chief financial officer of Eve Air Mobility. "The new equity ensures Eve is well positioned as we continue to build momentum and advance our eVTOL development."

Couto highlighted that Eve holds "the industry’s largest pre-order book with letters of intent for 2,900 aircraft" and has strong program development partners.