Embraer's Eve business is developing all-electric vertical take-off and landing aircraft. (Embraer)

Brazil's Embraer plans to turn its Eve electric vertical take-off and landing (eVTOL) aircraft business into a publicly held company to raise money for its growth, Embraer announced on 21 December.

Eve will change its status by merging with Zanite Acquisition Corporation, a publicly traded special purpose acquisition company that is focused on the aviation sector. The combined entity will use the “Eve” name and trade on the New York Stock Exchange.

Embraer will own an 82% stake in the new Eve, and will support the merged company with various resources, including engineering and production capabilities. The transaction is expected to close in the second quarter of 2022 and leave the eVTOL firm with about USD512 million in cash to further develop and commercialise its products.

Embraer's Eve business is developing all-electric vertical take-off and landing aircraft. (Embraer)

Brazil's Embraer plans to turn its Eve electric vertical take-off and landing (eVTOL) aircraft business into a publicly held company to raise money for its growth, Embraer announced on 21 December.

Eve will change its status by merging with Zanite Acquisition Corporation, a publicly traded special purpose acquisition company that is focused on the aviation sector. The combined entity will use the “Eve” name and trade on the New York Stock Exchange.

Embraer will own an 82% stake in the new Eve, and will support the merged company with various resources, including engineering and production capabilities. The transaction is expected to close in the second quarter of 2022 and leave the eVTOL firm with about USD512 million in cash to further develop and commercialise its products.

Embraer's Eve business is developing all-electric vertical take-off and landing aircraft. (Embraer)

Brazil's Embraer plans to turn its Eve electric vertical take-off and landing (eVTOL) aircraft business into a publicly held company to raise money for its growth, Embraer announced on 21 December.

Eve will change its status by merging with Zanite Acquisition Corporation, a publicly traded special purpose acquisition company that is focused on the aviation sector. The combined entity will use the “Eve” name and trade on the New York Stock Exchange.

Embraer will own an 82% stake in the new Eve, and will support the merged company with various resources, including engineering and production capabilities. The transaction is expected to close in the second quarter of 2022 and leave the eVTOL firm with about USD512 million in cash to further develop and commercialise its products.

Embraer's Eve business is developing all-electric vertical take-off and landing aircraft. (Embraer)

Brazil's Embraer plans to turn its Eve electric vertical take-off and landing (eVTOL) aircraft business into a publicly held company to raise money for its growth, Embraer announced on 21 December.

Eve will change its status by merging with Zanite Acquisition Corporation, a publicly traded special purpose acquisition company that is focused on the aviation sector. The combined entity will use the “Eve” name and trade on the New York Stock Exchange.

Embraer will own an 82% stake in the new Eve, and will support the merged company with various resources, including engineering and production capabilities. The transaction is expected to close in the second quarter of 2022 and leave the eVTOL firm with about USD512 million in cash to further develop and commercialise its products.

Embraer's Eve business is developing all-electric vertical take-off and landing aircraft. (Embraer)

Brazil's Embraer plans to turn its Eve electric vertical take-off and landing (eVTOL) aircraft business into a publicly held company to raise money for its growth, Embraer announced on 21 December.

Eve will change its status by merging with Zanite Acquisition Corporation, a publicly traded special purpose acquisition company that is focused on the aviation sector. The combined entity will use the “Eve” name and trade on the New York Stock Exchange.

Embraer will own an 82% stake in the new Eve, and will support the merged company with various resources, including engineering and production capabilities. The transaction is expected to close in the second quarter of 2022 and leave the eVTOL firm with about USD512 million in cash to further develop and commercialise its products.

Embraer's Eve business is developing all-electric vertical take-off and landing aircraft. (Embraer)

Brazil's Embraer plans to turn its Eve electric vertical take-off and landing (eVTOL) aircraft business into a publicly held company to raise money for its growth, Embraer announced on 21 December.

Eve will change its status by merging with Zanite Acquisition Corporation, a publicly traded special purpose acquisition company that is focused on the aviation sector. The combined entity will use the “Eve” name and trade on the New York Stock Exchange.

Embraer will own an 82% stake in the new Eve, and will support the merged company with various resources, including engineering and production capabilities. The transaction is expected to close in the second quarter of 2022 and leave the eVTOL firm with about USD512 million in cash to further develop and commercialise its products.