Eve Air Mobility wins new funding deal

Eve Air Mobility said it has secured 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. EHang appoints chief technology officer EHang announced its board of directors has appointed Shuai Feng as the Chief Technology Officer. Feng joined EHang in July 2014 as a core member of the founding team. He has played a critical role in and led the development of, multiple pilotless human-carrying eVTOLs products, including the EH184, the EH216-S, and the VT35, as well as the GD series aerial formation UAVs. These innovations pioneered commercialisation in global pilotless AAM and aerial media performance applications. Feng graduated from Tsinghua University in Automation major, where he specialised UAV technology and was awarded the Grand Prize in the University’s prestigious 29th “Challenge Cup” competition, among other honours. He currently serves as Deputy Director of the Tsinghua-EHang Joint Research Institute for Low-Altitude Aviation Technology, Deputy Secretary-General of the Aerospace, Aviation, and Smart Manufacturing Committee of the Tsinghua University Guangzhou Alumni Association, and Secretary-General of the Tsinghua University Future Robotics Interest Group. For Editorial Inquiries Contact: Editor Matt Driskill at [email protected] For Advertising Inquiries Contact: Head of Sales Sally Passey at [email protected]