United Airlines (NASDAQ:UAL) announced a $15M investment in Eve Air Mobility (EVEX) and a conditional purchase agreement for 200 four-seat electric aircraft, as well as options for another 200 eVTOLS.
The airline company expects to see the first deliveries as early as 2026. Under the terms of the agreement, the companies intend to work on future projects, including studies on the development, use and application of Eve's aircraft and the urban air mobility ecosystem.
"United has made early investments in several cutting-edge technologies at all levels of the supply chain, staking out our position as a leader in aviation sustainability and innovation," stated Michael Leskinen, President of United Airlines Ventures.
The agreement with Eve is said to highlight UAL's confidence in the urban air mobility market and serves as another important benchmark toward the goal of net zero carbon emissions by 2050.
For its part, Eve Air Mobility said it is taking a holistic approach to progressing the UAM ecosystem, with an advanced eVTOL project, comprehensive global services and support network and a unique air traffic management solution. Notably, the startup is backed by Embraer S.A. (ERJ).
Eyes on the sky: eVTOL sector could take flight after pivotal American Airlines order