United Airlines Invests an Additional $15 Million in Electric Flying Taxi Market

September 8, 2022

United Airlines announced today they will invest a further $15 million in the future flying taxi market with an investment in Eve Air Mobility, which produces the aircraft.

A conditional purchase agreement has been made for 200 four-seat electric aircraft, with an expected delivery date of 2026. This agreement also includes 200 option contracts, in the event that more aircraft are needed.

United Airlines has announced a new investment in flying taxis. This latest investment follows earlier investments by United in flying taxis, which have the potential to revolutionize the commuter experience in cities around the world.

Under the terms of the agreement, the companies intend to work together on future projects, including studies on the development, use and application of Eve's aircraft and the urban air mobility (UAM) 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," said Michael Leskinen, President of United Airlines Ventures. "Today, United is making history again, by becoming the first major airline to publicly invest in two eVTOL companies. Our agreement with Eve highlights our confidence in the urban air mobility market and serves as another important benchmark toward our goal of net zero carbon emissions by 2050 – without using traditional offsets. Together, we believe our suite of clean energy technologies will revolutionize air travel as we know it and serve as the catalyst for the aviation industry to move toward a sustainable future."

"United's investment in Eve reinforces the trust in our products and services and strengthens our position in the North American market," said Andre Stein, co-CEO of Eve. "I am confident that our UAM agnostic solutions, coupled with the global know-how we have been developing at Eve and Embraer's heritage, are the best fit for this initiative, giving United's customers a quick, economical and sustainable way to get to its hub airports and commute in dense urban environments. It is an unparalleled opportunity to work with United to advance the US UAM ecosystem, and we look forward to it."

United Airlines Ventures (UAV) is a corporate venture fund designed to support United's 100% green commitment to reach net zero emissions by 2050 without the use of traditional offsets. UAV has led the industry in investments in eVTOL and electric aircraft, hydrogen fuel cell engines, and sustainable aviation fuel. Last month, United gave a $10 million deposit to a California-based eVTOL company for 100 aircraft.

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