Brazilian planemaker Embraer intends to invest 20 billion reais ($3.47 billion) in Brazil by 2030, according to Chief Executive Francisco Gomes Neto. The investment will focus on expanding aircraft production and developing new products. This announcement was made during an event in Brasilia, where he was joined by Brazilian President Luiz Inacio Lula da Silva.
Among the new products in development is Embraer's "flying taxi" (eVTOL) aircraft, being worked on by its subsidiary Eve, Gomes Neto explained.
Expressing optimism about Embraer's future, the CEO highlighted growth prospects in commercial, executive aviation, as well as defense and security segments.
Embraer later confirmed in a press release that the investment projection aligns with the company's recent spending patterns and growth strategy for the upcoming five years. ($1 = 5.7592 reais)