Brazil’s Embraer, BAE Systems agree on defense partnership
2022.07.19 16:34
FILE PHOTO: The logo of Brazilian planemaker Embraer SA is seen at the company’s headquarters in Sao Jose dos Campos, Brazil February 28, 2018. REUTERS/Roosevelt Cassio
SAO PAULO (Reuters) -Brazilian planemaker Embraer SA (NYSE:ERJ) on Tuesday announced a partnership with BAE Systems (OTC:BAESF) PLC to expand their footprint in the global defense market, including a joint venture to develop a defense variant of an electric aircraft.
Embraer, at the Farnborough Airshow in the UK, said that it has signed two memorandums of understanding with BAE Systems to go forward with projects involving its C-390 series and the electrical vertical take-off and landing (eVTOL) vehicle to be produced by Eve Holding Inc.
According to a statement, the first memorandum established a partnership between BAE Systems and Embraer to collaborate in Middle Eastern markets for the C-390, with an initial focus on Saudi Arabia.
The second confirms an intent to create a joint venture to develop a defense variant of Eve’s electric aircraft, with Eve being the platform provider.
“BAE Systems and Embraer will continue working together to explore how the aircraft, designed for the urban mobility market, can provide cost-effective, sustainable, and adaptable capability as a defense variant,” said Embraer Defense & Security Chief Executive Jackson Schneider.
The companies had first announced plans to work together on the eVTOL in December 2021, with BAE Systems being labeled as a strategic partner of Eve, which was listed on the New York Stock Exchange earlier this year.
