Eve And Moviation Sign Letter Of Intent For First eVTOL Urban ATM Agreement In South Korea
Portfolio Pulse from Benzinga Newsdesk
Eve Air Mobility (NYSE:EVEX) and South Korea's Moviation have signed a Letter of Intent to purchase Eve's Urban ATM solution, a software solution for Urban Air Mobility (UAM) traffic management. The agreement comes as Eve's Urban ATM concept has been adopted as part of Korea's K-UAM Grand Challenge, a program to support the commercialization of UAM in 2025. Eve is also collaborating with Atech, Embraer's Air Traffic Control technology and system integrator company, for the development of the Urban ATM software solution.
September 28, 2023 | 1:44 pm
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POSITIVE IMPACT
Eve Air Mobility's partnership with Moviation and the adoption of its Urban ATM concept in Korea's K-UAM Grand Challenge could potentially boost its market position and stock value.
The news of Eve Air Mobility's partnership with Moviation and the adoption of its Urban ATM concept in Korea's K-UAM Grand Challenge is positive. This could potentially increase the company's market share in the UAM industry, leading to a potential increase in its stock value.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
The news may indirectly impact the iShares MSCI South Korea ETF (EWY) as it indicates advancements in the South Korean UAM industry, which could potentially boost the country's tech sector.
The news indicates advancements in the South Korean UAM industry, which could potentially boost the country's tech sector. As the iShares MSCI South Korea ETF (EWY) includes tech stocks, this news could indirectly impact the ETF.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 60