About Archer Aviation Inc. Class A Common Stock (ACHR)
Archer Aviation Inc is an innovative aerospace company focused on developing electric vertical takeoff and landing (eVTOL) aircraft aimed at revolutionizing urban air mobility. The company is dedicated to creating sustainable air transportation solutions that enable efficient and environmentally friendly travel within cities. Archer's advanced aircraft design incorporates cutting-edge technology and engineering to address the challenges associated with urban congestion, offering a new mode of transportation that enhances connectivity and reduces travel times for urban commuters. With a vision to integrate air travel into the everyday lives of people, Archer is at the forefront of shaping the future of transportation. Read More
Archer Aviation announced that its Midnight aircraft completed its highest altitude flight to date, reaching altitudes of 7,000 feet, after taking off from the company’s test facility in Salinas, California.
Archer Aviation Inc. (NYSE: ACHR) today announced that its Midnight aircraft successfully completed its highest altitude flight to date, reaching altitudes of 7,000 feet. The flight took off from Archer’s test facility in Salinas, CA, and represents the latest milestone in Midnight’s envelope expansion testing program.
The race to commercialize flying cars is shifting from science fiction to investor reality. JPMorgan analysts see electric vertical takeoff and landing (eVTOL) aircraft entering a rapid growth phase, with the total addressable market for passenger air taxis alone projected to hit $100 billion globally by 2040.
Joby Aviation Inc claims its vertical integration and partnerships with Toyota, Delta, and Uber give it an edge in the race to commercialize electric air taxis.
The stock had gained 3.1% on Friday after it revealed that it would take part in the program, which was implemented in accordance with a Presidential executive order.
The pilot program, known as the Electric Vertical Takeoff and Landing Integration Pilot Program, will form public-private partnerships with State and local government entities and private sector companies.
Today, Archer Aviation Inc. (NYSE: ACHR) announced it is aiming to participate in the White House’s newly established eVTOL Integration Pilot Program (eIPP) alongside U.S. airlines, including United Airlines, and interested cities. This is the first federal initiative designed specifically to accelerate real world electric air taxi operations in the U.S.
