Embraer-backed eVTOL maker eyes certification

Eve Air Mobility, backed by Embraer, plans to land certification for its electric vertical takeoff and landing aircraft by December 2028.

Why it matters: With one of the world's largest aircraft manufacturers in its corner, Eve has a potentially significant advantage in the race to commercialize electric air taxis.

Zoom in: "We're talking about the same safety level that we have on the airliners," CEO Johann Bordais said in an interview describing the company's safety expectations for its aircraft, the Eve 100.

It will take "at least" six to 10 years after certification to go pilotless, Bordais said.

Eve completed its first "uncrewed," remotely piloted eVTOL prototype at its test facility in Brazil in December.

Follow the money: The publicly traded company has more than half a billion dollars in liquidity right now and is burning about $200 million to $250 million in cash per year, Bordais said.

"We're fully funded for certification," he added.

State of play: 29 customers in nine countries have signed letters of intent to buy up to 2,700 aircraft.

100 are under contract as of today with down payments — one with Revo in São Paulo and the other one with AirX in Japan.

Manufacturing is expected to take place at a site in Brazil, with plans for annual production capacity of 120 units at the outset and an eventual expansion up to 480.

The company will start with production of six units for certification purposes.

"We'll fly them, we'll test them extensively, and we'll get certification in 2028," Bordais said.