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Dec 15, 2017

Embraer, Uber eye 2024 for vertical takeoff partnership: CEO

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SAO PAULO — A partnership that Brazilian planemaker Embraer SA (ERJ.N) has struck with U.S. ride-hailing application Uber Technologies Inc will launch its first test flight in 2020, and aims to start commercial service in 2024, an executive said on Friday.

Speaking to journalists in Sao Paulo, Embraer Chief Executive Paulo Cesar de Souza said the business model and financial commitments of the partnership are yet to be defined. Embraer and Uber have previously said they are developing electric vehicles with vertical takeoff and landing to serve as an urban taxi service.