BRASILIA (Reuters) – Brazilian planemaker Embraer plans to invest 20 billion reais ($3.47 billion) in the country by 2030, Chief Executive Francisco Gomes Neto said on Wednesday. “This amount will be used toward an increase in aircraft production and the development of new products,” he said at an event in capital Brasilia alongside Brazilian President […]
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Embraer to invest some $3.5 billion in Brazil by 2030
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BRASILIA (Reuters) – Brazilian planemaker Embraer plans to invest 20 billion reais ($3.47 billion) in the country by 2030, Chief Executive Francisco Gomes Neto said on Wednesday.
“This amount will be used toward an increase in aircraft production and the development of new products,” he said at an event in capital Brasilia alongside Brazilian President Luiz Inacio Lula da Silva.
Those new products include Embraer’s so-called “flying taxi” electric vertical take-off and landing(eVTOL) aircraft, under development by subsidiary Eve, Gomes Neto said.
The CEO said he felt “quite optimistic about the future” for Embraer’s operations in several segments, including commercial and executive aviation as well as defense and security.
In a press release issued later in the day, Embraer said that the investment forecast is similar to the firm’s spending in recent years and is in line with its growth plan for the next five years.
($1 = 5.7592 reais)
(Reporting by Lisandra Paraguassu; Writing by Isabel Teles; Editing by Kylie Madry)