Eve Air Mobility Names KAI as Supplier for eVTOL Pylons

Eve Air Mobility Names KAI as Supplier for eVTOL Pylons

Company to supply components for protypes and production aircraft.

MELBOURNE, Fla. – April 14, 2024 – Eve Air Mobility (“Eve”) (NYSE: EVEX; EVEXW) has named Korea Aerospace Industries Ltd. (KAI), as supplier for its electric vertical takeoff and landing aircraft’s pylons. Pylons are a key component of the airframe that provide support for the aircraft’s electric power units and eight lift propellers.

“KAI has an excellent reputation for quality, technology and business performance  supplying numerous aerostructure components for a variety of aircraft including Embraer’s E-Jet E2 model,” said Johann Bordais, CEO of Eve. “We are excited to have KAI join a strong and diverse list of suppliers who will work with us to supply components from prototype through production.”

During the past 30 years, KAI has supplied major aerostructure components to global aircraft manufacturers, including Embraer for its E-Jet E2 model. The agreement marks KAI’s formal entry into the advanced air mobility (AAM) market. Last year, KAI CEO Goo Young Kang designated space and future air mobility as the company’s core future businesses through its 2050 vision declaration. KAI recently announced a significant investment in production infrastructure with the goal of growing its market share in the rapidly growing AAM market going forward.

KAI is the latest supplier for Eve’s eVTOL to be named by Eve. In February, Eve named Aciturri (wing skin, spars and leading/trailing edges of the wing) and Crouzet (pilot controls) as suppliers. In January, Eve announced that Thales would supply sensors and a computer, while Honeywell would supply guidance, navigation and external lighting. RECARO Aircraft Seating was selected to supply the eVTOL’s seats and FACC will supply the horizontal and vertical tail including the rudder and elevator. In 2023, Eve selected Garmin to supply the aircraft’s avionics, Liebherr-Aerospace to supply the flight controls actuators and Intergalactic to provide the thermal management system.  The company also named Nidec Aerospace, LLC, a joint venture between Nidec and Embraer, to provide the electric propulsion system, BAE Systems to provide the energy storage system and Duc Hélice Propellers to supply the rotors and propeller.

Eve’s eVTOL aircraft utilizes a lift+cruise configuration with eight dedicated propellers for vertical flight and fixed wings to fly on cruise, with no change in the position of these components during flight. The latest concept includes an electric pusher powered by dual electric motors that provide propulsion redundancy with the goal of ensuring the highest levels of performance and safety. While offering numerous advantages such as lower cost of operation, fewer parts, optimized structures, and systems, it has been developed to offer efficient thrust with low sound.

Last year, the company announced that its first eVTOL production facility will be located in the city of Taubaté, in the state of São Paulo, Brazil. The company has begun assembly of its first full-scale eVTOL prototype which will be followed by a test campaign. Eve’s eVTOL is scheduled to begin deliveries and enter into service in 2026.

Concurrently, Eve continues to develop a comprehensive portfolio of agnostic service and operations solutions, including Vector, a unique Urban Air Traffic Management software to optimize and scale Urban Air Mobility operations worldwide.

Image: https://eve.imagerelay.com/share/ea5cc34312244a3c85a6c7ecd03dbbca

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About Eve

Eve is dedicated to accelerating the Urban Air Mobility ecosystem. Benefitting from a start-up mindset, backed by Embraer S.A.’s more than 50-year history of aerospace expertise, and with a singular focus, Eve is taking a holistic approach to progressing the UAM ecosystem, with an advanced eVTOL project, a comprehensive global services and support network and a unique air traffic management solution. Since May 10, 2022, Eve has been listed on the New York Stock Exchange, where its shares of common stock and public warrants trade under the tickers “EVEX” and “EVEXW.” For more information, please visit www.eveairmobility.com

Contacts 

Eve Air Mobility: [email protected]    

Forward-Looking Statement Disclosure

Certain statements contained in this release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by words such as “may,” “will,” “expect,” “intend,” “anticipate,” “believe,” “estimate,” “plan,” “project,” “could,” “should,” “would,” “continue,” “seek,” “target,” “guidance,” “outlook,” “if current trends continue,” “optimistic,” “forecast” and other similar words or expressions. All statements, other than statements of historical facts, are forward-looking statements, including, but not limited to, statements about the company’s plans, objectives, expectations, outlooks, projections, intentions, estimates, and other statements of future events or conditions, including with respect to all companies or entities named within. These forward-looking statements are based on the company’s current objectives, beliefs and expectations, and they are subject to significant risks and uncertainties that may cause actual results and financial position and timing of certain events to differ materially from the information in the forward-looking statements. These risks and uncertainties include, but are not limited to, those set forth herein as well as in Part I, Item 1A. Risk Factors and Part II, Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations of the company’s most recent Annual Report on Form 10-K, Part I, Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations and Part II, Item 1A. Risk Factors of the company’s most recent Quarterly Report on Form 10-Q, and other risks and uncertainties listed from time to time in the company’s other filings with the Securities and Exchange Commission. Additionally, there may be other factors of which the company is not currently aware that may affect matters discussed in the forward-looking statements and may also cause actual results to differ materially from those discussed. The company does not assume any obligation to publicly update or supplement any forward-looking statement to reflect actual results, changes in assumptions or changes in other factors affecting these forward-looking statements. other than as required by law. Any forward-looking statements speak only as of the date hereof or as of the dates indicated in the statement.

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