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KAI signs $723 million deal with Brazil's Eve Air Mobility

Published: 15 Apr. 2024, 18:40 Updated: 15 Apr. 2024, 19:20

PARK EUN-JEE
[email protected]

A rendered image of electric vertical takeoff and landing (eVTOL) vehicles by Eve Air Mobility [KAI]

Korea Aerospace Industries (KAI) has signed a 1 trillion won ($722.9 million) deal with Brazilian aircraft manufacturer Eve Air Mobility to supply a key component used in the production of electric vertical takeoff and landing (eVTOL) vehicles.

The Sacheon, South Gyeongsang-based aerospace company said Monday that the contract is valued at more than 1 trillion won and will extend until the eVTOL model is complete.

KAI will be responsible for the development and mass production of Pylon, a core structure in eVTOL units used to mount electric propulsion systems.

The company has previously supplied structures for the twin-engine medium-sized aircraft E-Jet E2 produced by Embraer, the parent company of Eve.

Eve's eVTOL model can accommodate five people and is capable of traveling up to 100 kilometers (62 miles), according to KAI. Eve aims to begin producing units for commercial operations as air taxis in the United States, Brazil and other nations in 2026.

The Brazilian company also holds a sound business track record and a large number of clients in the urban air mobility industry, according to KAI.

Through participation in the eVTOL business, KAI plans to enhance its production technology in the field of advanced air mobility and seek entry into the global market.

KAI CEO Kang Goo-young said the company will “successfully carry out the development and mass production of eVTOLs to enhance its global competitiveness in the advanced air mobility sector.”

KAI is best known for its manufacturing of jet trainers and combat aircrafts, but the company is trying to push beyond its mainstay business.

It cited autonomous aerial vehicles as one of its future business focuses at a conference in January.

BY PARK EUN-JEE, YONHAP [[email protected]]