Flying car pioneer Eve converts early interest into binding orders

Global investors tracking the race for electric air taxis just received a concrete sign that conceptual "flying cars" are transitioning into a real commercial market. The early non-binding handshakes that have dominated the sector's massive backlogs are beginning to convert into firm, legally binding financial commitments.

On November 4, 2026, Florida-headquartered Eve Air Mobility announced it has signed a binding agreement with Brazilian regional aviation startup FlyBIS Aviation Limited for up to 12 of its electric vertical take-off and landing (eVTOL) aircraft. The transaction includes two firm orders and purchase rights for an additional ten units. The deal formalizes a preliminary letter of intent signed by the two companies in December 2022.

While Eve holds a massive global backlog of 2,770 non-binding letters of intent, converting those soft leads into binding contracts is the critical hurdle for the pre-revenue company. FlyBIS, an advanced air mobility startup based in Caxias do Sul in southern Brazil, plans to use the aircraft to connect high-traffic coastal cities and mountain tourist hubs where ground infrastructure is congested.

Connecting Southern Brazil's Wealthiest Corridors

The planned routes target Brazil's southern states of Santa Catarina and Rio Grande do Sul. These regions boast some of the country's highest per-capita incomes and busiest tourism corridors. FlyBIS intends to fly passengers between coastal hubs like Balneário Camboriú and Florianópolis, as well as mountain destinations like Gramado.

In these areas, a 30-kilometer drive can easily exceed 90 minutes during peak seasons. Eve's piloted, four-passenger aircraft—which is designed for a 100-kilometer range—is positioned to bypass this traffic entirely.

The deal is also a win for Eve's parent company, Embraer, the Brazilian aerospace giant that incubated Eve. Embraer remains Eve's majority shareholder, providing the spin-off with industrial manufacturing capabilities and a global service network that pure-play startup competitors struggle to replicate.

Regulatory Runway and Next Steps

To support the entry into service, Eve and FlyBIS are collaborating with Brazilian authorities to prepare the airspace. In September 2026, Brazil's Ministry of Ports and Airports convened aviation regulators, government representatives, and Eve executives to map out vertiport infrastructure, power grids, and integration with traditional air traffic control.

Meanwhile, Eve's full-scale engineering prototype has completed more than 70 test flights. The company is currently expanding its flight envelope through transition-flight testing, including the in-flight activation of its rear pusher propulsion system as it advances toward wing-borne flight certification. Eve aims to complete its certification campaign with Brazil's civil aviation authority, ANAC, and enter commercial service by 2028.

In your brokerage app

Eve Air Mobility is listed on the New York Stock Exchange under the ticker EVEX. Retail investors can also gain exposure to the company through its parent organization, Embraer, which is listed on the New York Stock Exchange as ERJ.