Articles for tag Archer
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Sep
03
2024
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Posted by Admin
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SANTA CLARA, CA, September 3, 2024 – Today Archer Aviation announced that it has completed 402 test flights so far this year, surpassing the 400 test flight goal it set for 2024 approximately four months ahead of schedule.
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Archer
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Aug
22
2024
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Posted by Admin
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SANTA CLARA, Calif.--(BUSINESS WIRE)-- Archer Aviation this week announced that it has now closed on $220M of this $230M of additional capital raised since the end of Q2, with $10M remaining in the form of a committed investment from Stellantis that remains subject to shareholder approval which is expected to occur later this year.
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Archer
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Aug
15
2024
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Posted by Admin
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SANTA CLARA, Calif.--(BUSINESS WIRE)-- Archer Aviation Inc. announced today it has delivered its first Midnight aircraft to the USAF to evaluate as part of its AFWERX Agility Prime contract valued at up to $142M*.
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Archer
USAF
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Press Releases
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Jul
31
2024
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Posted by Admin
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COVINGTON, Ga.--(BUSINESS WIRE)-- Today Archer Aviation Inc. (NYSE: ACHR) provided an update on the construction progress of its high-volume manufacturing facility in Covington, GA, reaffirming an expected 2024 completion date.
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Archer
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Press Releases
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Jul
17
2024
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Posted by Admin
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SANTA CLARA, Calif.--(BUSINESS WIRE)-- Archer Aviation Inc., a leader in the development of electric vertical takeoff and landing (eVTOL) aircraft, announced today that on Tuesday, July 16, 2024 it received approval from CAEATFA for its ~$117M project covering the planned expansion of its advanced manufacturing facilities in the State of California, including the ramp of its advanced electric powertrain facility as it readies for commercialization. The CAEATFA sales and use tax exclusion is expected to result in ~$10M in benefit to Archer over the next few years.
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Archer
eVTOL
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Press Releases
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Jul
15
2024
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Posted by Admin
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DALLAS & SANTA CLARA, Calif.--(BUSINESS WIRE)-- Southwest Airlines Co. (NYSE: LUV) and Archer Aviation Inc. (NYSE: ACHR) have signed a memorandum of understanding (MOU) to develop operational plans for electric air taxi networks utilizing Archer’s eVTOL aircraft at California airports where Southwest® operates. Archer Aviation is a leading manufacturer of electric vertical takeoff and landing (eVTOL) aircraft.
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Archer
Southwest Airlines
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Press Releases
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Jul
03
2024
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Posted by Admin
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AMSTERDAM and SANTA CLARA, CA, July 2, 2024 – Stellantis N.V. (NYSE: STLA / Euronext Milan: STLAM / Euronext Paris: STLAP) and Archer Aviation Inc. (NYSE:ACHR), a leader in electric vertical takeoff and landing (eVTOL) aircraft, today announced Archer has received an additional $55 million investment from Stellantis under the companies’ strategic funding agreement following the achievement of its transition flight test milestone last month.
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Archer
eVTOL
Stellantis
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Press Releases
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Jun
20
2024
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Posted by Admin
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SANTA CLARA, Calif.--(BUSINESS WIRE)-- (NYSE: ACHR), a leader in electric vertical takeoff and landing (eVTOL) aircraft, today announced plans for an air mobility network that will connect five strategic locations across the San Francisco Bay Area - South San Francisco, Napa, San Jose, Oakland, and Livermore. Archer’s network is anticipated to provide unprecedented connectivity to communities around the region, allowing people to replace one-to-two-hour drives to cities around the bay with flights that take ~10-20 minutes. To anchor the network, Kilroy Realty Corporation (NYSE: KRC, “Kilroy”), a leading U.S. landlord and developer with an 18 million square foot operating and development portfolio, recently signed a memorandum of understanding (MOU) with Archer identifying Kilroy Oyster Point – a 50-acre waterfront campus in South San Francisco – as a critical hub in Archer’s planned San Francisco Bay Area UAM network.
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Archer
Bay Area
eVTOL
LIVERMORE
Napa
Oakland
San Francisco
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Press Releases
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Jun
12
2024
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Posted by Admin
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SANTA CLARA, Calif.--(BUSINESS WIRE)-- Archer Aviation Inc. (NYSE:ACHR), a leader in electric vertical takeoff and landing (eVTOL) aircraft, today announced that on June 8th its Midnight aircraft successfully completed transition flying at a speed of 100+ mph. Archer has now achieved transition with two different full-scale eVTOL aircraft. Transition is well known in the industry as a very difficult milestone few companies have reached. At ~6,500 lbs, Midnight is believed to be one of the largest eVTOL aircraft to complete transition, which is critical to being able to carry commercially viable passenger payloads.
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Archer
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Press Releases
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May
23
2024
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Posted by Admin
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SANTA CLARA, Calif.--(BUSINESS WIRE)-- Archer Aviation Inc. (NYSE: ACHR) a leader in electric vertical takeoff and landing (eVTOL) aircraft, today announced the FAA issued for public inspection the final airworthiness criteria for Archer’s Midnight aircraft. This significant regulatory milestone provides the solidified path for Archer to achieve Type Certification for Midnight. Archer is one of two companies in the world to achieve this certification progress with the FAA for an eVTOL aircraft.
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Archer
eVTOL
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Press Releases