| Ticker | Status | Jurisdiction | Filing Date | CP Start | CP End | CP Loss | Deadline |
|---|
| Ticker | Case Name | Status | CP Start | CP End | Deadline | Settlement Amt |
|---|
| Ticker | Name | Date | Analyst Firm | Up/Down | Target ($) | Rating Change | Rating Current |
|---|
Electric aircraft maker Eve Air Mobility (NYSE:EVEX) and Saudi airline Flynas on Wednesday announced their collaboration to investigate the viability of electric vertical take-off and landing (eVTOL) aircraft operations in Saudi Arabia.
What Happened: Both entities have entered into a Memorandum of Understanding (MoU), eyeing the initiation of eVTOL operations in Riyadh and Jeddah by 2026. The partnership aims to contribute to the Vision 30 sustainability goals in the aviation sector.
Expressing their excitement over the collaboration, CEO and Managing Director of Flynas Bander Almohanna said, “We are pleased to explore the sustainable solutions with Eve Air Mobility as a pioneering company in this field, in line with flynas' strategy to adopt initiatives with sustainable impact on the environment, society, and economy in parallel with the national goals to neutralize greenhouse gas emissions by 2060.”
Why It Matters: Eve is controlled by Brazilian plane maker Embraer SA.
Eve's eVTOL aircraft, which is yet to enter operation, is fully powered by electricity and offers a range of 60 miles, accommodating four passengers and the pilot.
While the initial flights will be piloted, the companies have indicated their plans to transition to autonomous operations in the future. Once autonomous flight certification is obtained, the eVTOL can carry up to six passengers.
This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
Check out more of Benzinga's Future Of Mobility coverage by following this link.
Read Next: Lucid Considered Tesla-Like Yoke Steering For Gravity SUV But Eventually Dropped It For A ‘Squircle’
Posted In: EVEX
