Electric air taxi developer Eve Air Mobility reports on 8 August losing $31.4 million in the second quarter, compared with a $107 million loss during the same period last year.
The Melbourne, Florida-based company – which is backed by Embraer – said that the bulk of its quarterly expenses came from $21.8 million spent on research and development, including internal design, engineering and testing infrastructure for its air taxi.
For comparison, the company spent $10.4 million on research and development during the second quarter of 2022.
As of 30 June, Eve held $269 million in cash, investments and a related-party loan from Embraer, compared with $331 million on the same date last year.
During the second quarter, Eve unveiled the final design configuration of its in-development electric vertical take-off and landing (eVTOL) aircraft, which will seat four passengers and one pilot. The design includes one push propeller and eight lift rotors.
Co-chief executive Jerry DeMuro said during the company’s quarterly earnings call that the Federal Aviation Administration recently agreed to recognise certification of Eve’s air taxi through Brazil’s National Civil Aviation Agency, “which will allow us to do the dual validations which is so critical to our development programme”.
Eve expects Brazil’s aviation regulator to approve its certification plans by the end of this year, by which point it plans to begin assembling a full-scale production prototype of its eVTOL.
”We will begin the test campaign sometime next year,” DeMuro says.
Eve recently manufactured for the first time the carbon fibre laminate material that will be used to assemble its production aircraft.
Late last month, Eve’s board of directors named Johann Bordais as the company’s sole chief executive, with DeMuro and and fellow co-CEO Andre Stein shifting to new roles. Bordais’ first day in the position will be 1 September.
Currently chief executive of Embraer Services and Support, Bordais “is a well-known quantity and a perfect fit for this role”, says DeMuro, who will stay with the company through October to ease the transition.
“The Eve vision is not only to design and develop a ground-breaking aviation product and global support network,” DeMuro adds, “it is also to develop a sustainable urban air mobility ecosystem that will literally transform urban transportation on a global basis.”
Eve plans to begin commercial operations with its air taxis by 2026.