Archer plans to participate in the White House's eVTOL Pilot Program to demonstrate safe, quiet, and scalable air taxi operations in collaboration with U.S. airlines like United and interested cities, aiming to accelerate the deployment of electric vertical takeoff and landing aircraft in the U.S.
Archer Aviation's stock, after initial decline, is supported by bullish analyst ratings, notably from Canaccord's Austin Moeller who maintains a $13 target, citing production progress, a strong cash reserve, and advancing certification, despite risks like cash burn and regulatory hurdles.
Archer has partnered with PT. IKN to deploy its Midnight aircraft in Indonesia, including an initial fleet and potential purchase of up to 50 aircraft valued at $250 million, aiming to establish air taxi services and explore additional uses like logistics and environmental surveillance, with collaboration on regulatory frameworks and infrastructure development.
Archer Aviation plans to launch an electric air taxi service in the Bay Area by 2025, offering quick rides between hubs like South San Francisco, San Jose, Napa, and Oakland. The company has received key FAA certifications and aims to provide a safe, sustainable, and low-noise transportation solution.
Archer Aviation has received a Part 135 air carrier certificate from the FAA, allowing it to operate conventional aircraft commercially through its subsidiary Archer Air. This certification is a step towards launching its Midnight eVTOL service in partnership with United Airlines, which has a $1 billion conditional order for Archer's aircraft. The arrangement will see Archer Air operating the eVTOL air taxis, with United providing financing and serving the flights to their passengers.
Joby Aviation has secured a definitive agreement with the government of Dubai to launch air taxi operations in the UAE, with exclusive rights to aerial operations in Dubai for six years starting in 2026. The company will work with Skyports to build and operate four vertiport sites in Dubai, offering eVTOL rides that can transport four passengers plus a pilot at speeds up to 200 mph, cutting car travel times significantly. Joby's progress in the eVTOL industry has been impressive, and this agreement marks a significant milestone in its efforts to bring full-scale air taxi operations to reality.
Hyundai's eVTOL division, Supernal, has unveiled the S-A2 concept, an electric vertical takeoff and landing aircraft that is projected to be ready for production by 2028. The four-passenger aircraft is designed for short trips and regional hops, with a cruising speed of 120mph and a noise level comparable to a dishwasher. Despite the challenges of regulatory approval and technological advancements in battery technology, Supernal is optimistic about its prospects and is focusing on leveraging Hyundai's manufacturing capabilities. Other global companies, including Stellantis, United, Delta, Boeing, and NASA, are also investing in electric aircraft for urban air mobility.
Joby Aviation, a leading eVTOL developer, has conducted its first flight in New York City, showcasing its potential for commercial air taxi operations in the urban area. The company aims to bring quieter and cleaner air travel to New York City in partnership with Delta Airlines, starting with roundtrip travel between Manhattan and JFK Airport. The four-passenger eVTOL could potentially reduce travel time from the heliport to JFK to just seven minutes, compared to over an hour by car. Joby and Delta are working with the Port Authority of New York and the New York City Economic Development Corporation to prepare for eVTOL operations at JFK and LaGuardia Airports.
Tampa International Airport hosted Florida's first air taxi test flight, conducted by Volocopter, marking the first urban air mobility test flight at a large U.S. airport. The demonstration showcased the potential of air taxis for short-to-medium-range flights within urban environments. While Volocopter still requires FAA approval to operate in the U.S., Tampa Bay is preparing for the moment the company receives federal approval, expected in 2025. Initially, Volocopter air taxis will transport one passenger at a time, with plans to build larger aircraft as battery technology advances.
Joby Aviation has received clearance from the FAA to conduct flight tests on its first production prototype air taxi. The company aims to start customer deliveries in 2024 and launch an air taxi service by 2025. The aircraft can take off and land like a helicopter, then transition to flying like an airplane at speeds of up to 200 MPH. It is designed to carry a pilot and four passengers over a distance of up to 100 miles on a single charge. Joby's partnership with Toyota and its appointment of Toyota North America CEO to the board of directors further solidify its position in the industry.
Air-taxi startup Volocopter aims to transport passengers with its VoloCity EVTOL aircraft during the Paris Olympics. However, the company needs to get its aircraft certified in time for the event.
United Airlines plans to launch an air taxi service in 2025 that will transport passengers from the Illinois Medical District on the Near West Side of Chicago to O'Hare International Airport in just 10 minutes using electric aircraft built by Archer Aviation. The cost of the service has not been disclosed yet.
United Airlines plans to launch air-taxi service between Vertiport Chicago and O'Hare International Airport in 2025, partnering with eVTOL maker Archer Aviation. The service will offer a 10-minute ride to the airport and is expected to cost around $100 to $150 at rush hour. United has also invested in Archer and Eve Air Mobility, and plans to launch another air-taxi route between Manhattan and Newark Liberty Airport in 2025. The move is part of United's commitment to decarbonizing air travel and exploring new market opportunities.