Eve Holding (EVEX) Completes First Uncrewed eVTOL Prototype Flight

Eve Holding, Inc. (NYSE:EVEX) is one of the best NYSE stocks under $5 to buy. On December 19, Eve Air Mobility, the operating entity of Eve Holding, Inc. (NYSE:EVEX), conducted the first flight of its uncrewed full-scale electric vertical takeoff and landing (eVTOL) prototype. This major development milestone took place at Embraer’s test facility in Gavião Peixoto, São Paulo, Brazil.

The initial test involved a hover flight that confirmed the aircraft’s architecture, integrated propulsion system, and fifth-generation fly-by-wire controls. Assessments covered control laws, energy management, dynamic response, noise levels, and the integration of eight fixed-pitch lifter rotors. According to Eve’s CEO Johann Bordais, the latest milestone confirms their precise execution plan for urban air mobility solutions. And it validates their design approach for reliability, efficiency, and simplicity.

The management stated that they will follow this test with multiple additional flights, gradually expanding the test envelope throughout 2026. This will include transitions to full wingborne operations, aiming for hundreds of flights to gather data for type certification by Brazil’s Civil Aviation Agency.

Separately, on December 8, Cantor Fitzgerald reiterated its Overweight rating on Eve Holding. This action came after Eve announced on December 2 that it had chosen BETA Technologies to supply electric pusher motors for its prototype eVTOL aircraft and future production models. The analysts based their decision on how the partnership strengthens Eve’s development efforts, noting that it validates BETA’s aftermarket services and will help advance Eve’s aircraft building.

Eve Holding, Inc. (NYSE:EVEX) is an urban air mobility company. It develops and commercializes eVTOL aircraft designed for urban transportation and regional connectivity. The company’s portfolio includes eVTOL aircraft, air traffic management solutions, and associated services.

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Disclosure: None. This article is originally published at Insider Monkey.