The National Bank for Economic and Social Development (BNDES) approved financing of R$500 million for the development of the flying car. The resources will go to Eve Air Mobility (Eve), a subsidiary of Embraer, which will install a production unit in Taubaté (SP). 
The company is projected to produce up to 480 aircraft per year, which uses eight rotors for vertical flight and fixed wings for cruising, in addition to an electric propellant powered by dual electric motors. The first full-scale prototype was launched in July this year.
The eVTOL prototype – which means Electric Vertical Takeoff and Landing Vehicle, in English – has undergone a series of tests to evaluate aspects of operation and performance, from flight capacity to safety features.
Eve CEO, Johann Bordais, said that the unit in Taubaté will be the first of its kind in Brazil, being powered by clean and renewable energy. According to him, the flying car project aims to “reimagine mobility through efficient and sustainable urban flight experiences”, according to a publication on the BNDES website.
The bank’s president, Aloizio Mercadante, highlighted that one of the goals is “to support innovative projects in Brazilian industry, such as air mobility, which uses high technological intensity”. Mercadante highlighted that the BNDES Mais Inovação Program, dedicated to financing innovative projects, has already approved R$8 billion in credits since 2023.
