Eve Air Mobility Announces “USD50 Million Bank Loan to Support eVTOL Development”
Last week’s news that Lilium’s principal subsidiaries are starting administration proceedings, sent shock waves through the eVTOL Industry. And why, since, leading players like Joby, Archer and Vertical Aerospace have sent word of impending additional funds, so as to calm investors and the Stock Market.
Eve Air Mobility is the latest, announcing this week an additional USD50 million bank loan from Citibank to strengthen the company’s balance sheet and support its eVTOL Aircraft R&D program, reports a press release.
The release explains, “With this additional loan, Eve’s 2Q24 pro-forma liquidity increases to around USD480 million, when combined with recently announced USD95.6 million in equity financing from a diverse group of global industrial companies and financial investors in July 2024.”
It continues, “Eve also recently announced a new USD88 million credit line agreement with Brazil’s National Development Bank (BNDES) to fund the development of the company’s aircraft production facility in Taubaté, in the state of São Paulo, Brazil.”

Eduardo Couto, CFO at Eve, commented, “We continue to attract new investors, a sign of the increasing confidence in our strategic plan, the strong customer interest in our eVTOL aircraft, services, operations solutions and our Vector urban air traffic management software solution.”
He continued, “The bank loan, along with existing cash and credit lines, ensures that Eve remains well capitalised with a comfortable balance sheet and with one of the highest cash runways in the advanced air mobility (AAM) industry.”
The release points out, “With the AAM’s largest pre-order book with Letters of Intent for 2,900 aircraft, a diverse group of suppliers and program development partners and the backing of Embraer, the world’s third largest aircraft manufacturer, Eve continues to demonstrate attractive opportunities for both strategic and financial investors.”
The company unveiled its first full-scale eVTOL prototype this summer at the UK’s Farnborough Airshow. The company is working towards a comprehensive trial campaign, while continuing to develop a wide-ranging portfolio of agnostic services and operations solutions, including Vector, a unique Urban Air Traffic Management software to optimise and scale AAM operations worldwide.
For more information
(Top image: Eve air Mobility)
For the latest news, insights and content regarding the global Advanced Air Mobility market, please join the following eVTOL Insights channels: WhatsApp, Facebook, Instagram, Spotify, Apple Podcasts, YouTube, X and LinkedIn.