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| We’ll also have LOIs to offer our Urban Air Traffic Management system for 14 different customers and we also -- we believe that this reflects the market-leading value proposition that we bring to our customers and our partners |
| I'm very confident that the level of safety and the certifiability and performance of our eVTOL |
| Luiz Valentini So, complementing what Johann said, we feel that we have good traction with ANAC, with the publication of our certification basis for public comment, both in the sense that it gives maturity to the requirements that we have set with them, but also that it allows us to go, as Johann mentioned, in this direction of aligning |
| We're not saying harmonization in the sense that they would not necessarily be exactly the same, but that it helps us to align both with the FAA basis and also with EASA basis in which we have more visibility to, right? So the publication of the Joby basis yesterday, still not final, but another publication helps us to make sure that we are indeed following this path of alignment and makes us confident, as we have mentioned before, that with the availability of ANAC to work on this project, that we will be able to maintain the timelines as we have established |
| We successfully run some tests under normal conditions, but also under different conditions, which is such as the delay, the bad weather, and it was a very concrete operation and we could learn from it, and, obviously, just make the software better afterwards, so quite excited about this |
| We believe that our pipeline is and the services for the vehicle, but also service and support contracts offer a strong long-term revenue visibility, and it will help Eve to smooth the cash flow consumption in the years to come as we start converting the existing letters of intent into orders and collect the pre-delivery payment known as PDPs |
| So I think it's really good and it's been proving quite efficient |
| At the current pace and judging by the progress of the assembly of our prototype, we're in really good shape to receive the certification, the Type certification and make the first delivery still in 2026 |
| So we're quite confident that we're going to the right direction and we'll know more by then |
| I'm happy to say that we have either met or exceeded our milestones for 2023 |
| I think it shows the confidence, right, that they have on Eve, on Embraer, and our ability to succeed in this program, and the contracts we sign with them, it fully reflects that, which is different from some other contracts we have seen out there |
| Really important to highlight here that we have the best-of-breed approach to bring suppliers with their expansion, aviation, and certification, and importantly, will support us in the certification campaign and throughout the eVTOL lifecycle, not only for the certification and delivery, but also in the lifecycle process |
| Well, as you can see, most of them is actually suppliers that we've known from the Embraer time also, right? They are partners of Embraer, some of them are not, but we do have throughout and very well-proven methodology to engage |
| This allows us to quicker -- to be quicker and efficiently involved with the design and reduce the program development schedule, but also the cost |
| We had a very busy 2023 year with several important achievements |
| That means our cash will only go down half of that right, because the other half, $75 million, we're going to access from the -- we're going to withdraw from the BNDES line, that's a big advantage, right |
| We have also successfully conducted a trial run of our UATM software under real-life conditions in the UK late last year |
| As you can see, we accomplished several important milestones this past year |
| We already took $25 million that hold our cash position pretty well in the fourth quarter and this is going to continue in all the upcoming quarters of this year |
| Yes, the relationship is great |
| Beyond this, we're developing a strong network of partners in the area, such as the infrastructure energy to address one of the main challenge that we have in industry and the air mobility, it's really to create the whole new ecosystem besides the simple development of aircraft |
| Thanks and have a good day |
| Cai von Rumohr Terrific |
| As a reminder, I would like to say that we have a unique approach that was [indiscernible] by Embraer proven methodology |
| So, yes, but that's part of the same concept where we want to make sure that we have the vehicle, but also the operation very smooth |
| Great |
| That will bring back about up to $660 million in revenues for Eve, over the course of the next five years -- actually five years from the delivery -- the first delivery in 2026 |
| This enabled us to start the building process of our first full-scale non-conforming prototype |
| So it postpones the degradation or it slows the degradation of the battery as we charge it and discharge it, which then in turn results in a reduction of our operational cost |
| Congratulations on the quarter, and thanks for taking our questions |
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| And lastly, we invested $95 million in our program during 2023, which is lower than anticipated than our guidance of $130 million to $150 million range given the three main factors: First, our continuous discipline on cost control as a pre-operational company; second, we managed to extract savings from synergies with Embraer; and third, we moved some of supplier payments from 2023 to the years ahead |
| Including R&D and SG&A, we reported a net loss of $39 million in the quarter, and $127 million in the year |
| We ended the fourth quarter with $241 million in cash, down just $15 million from the third quarter 2023 |
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