en.Wedoany.com Reported - Four electric vertical take-off and landing (eVTOL) aircraft developers—U.S.-based Archer Aviation, Brazil's Eve Air Mobility, U.S.-based Joby Aviation, and the UK's Vertical Aerospace—continue to expand their flight testing scopes, though funding pressure remains a common challenge. First-quarter 2026 performance reports show that U.S. companies Archer and Joby are confident about entering service within the year under the federal government's eVTOL integrated pilot program, while the type certification timelines for the UK's Vertical and Brazil's Eve may be pushed back to 2028.
In terms of cash reserves, Archer had $1.8 billion in liquidity at the end of the quarter, while Joby held $2.5 billion in cash and equivalents, with expenditures of $195 million. Vertical CEO Stuart Simpson highlighted the company's budgetary advantage, stating that "with 25% to 30% of their budget, we have achieved more than anyone else." Vertical's net cash expenditure in the first quarter was $47 million, with cash reserves of approximately $96 million, and it expects to receive $30 million in tax credits and grants soon. Eve had cash reserves of $441 million at the end of the first quarter, with total liquidity of $578 million, and is exploring synergies with its parent company, Embraer, aiming to save $100 million to $150 million over the next three years.
In April, Vertical completed a piloted two-way transition flight with its VX4 prototype, becoming the second company globally to achieve a full-scale tiltrotor eVTOL piloted two-way transition flight. Joby has completed test flights of its first FAA-conforming prototype and accomplished the first full transition flight of an uncrewed turbine-electric VTOL model. Archer is expanding its test scope using two airworthy prototypes and expects to complete the transition phase in the second half of the year. Eve's aircraft has accumulated approximately 60 flights, totaling about 2.5 flight hours, with transition flights planned for early in the third quarter.
Regarding certification, Vertical cautioned that its prudent cash burn strategy could pose additional risks to achieving certification before the end of 2028, but Simpson stated that "2028 remains the target, and it is entirely achievable." Eve CEO Johann Bordais similarly believes that certification and entry into service are more likely to be completed in 2028. Archer plans to commence operations in the U.S. under the pilot program this year and is collaborating with Beta Technologies to define charging infrastructure requirements.
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