Embraer's Eve Receives Potential Order From Falko For 200 eVTOLs

Eve UAM, LLC, an Embraer SA ERJ company, entered a Letter of Intent with Falko Regional Aircraft Limited for a potential order of 200 electric vertical take-off and landing aircraft (eVTOL). Financial terms not disclosed.
The arrangement also includes a commercial partnership to develop a global network of eVTOL operators supporting Urban Air Mobility missions.
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"Our partnership with Falko, a trusted aircraft leasing leader, cements our position in the global Urban Air Mobility marketplace and not only widens our potential operator base through Falko's global customer footprint but increases our ability to provide full stack solutions, through partnerships," said Andre Stein, co-CEO of Eve.
The partnership between Eve and Falko will begin by establishing a working group to collaborate with Falko's existing operators to develop initial route networks where Eve's aircraft can be deployed in early adopter markets.
Price Action: ERJ shares are trading higher by 1.23% at $16.87 on the last check Tuesday.