Archer Aviation is now the third air taxi developer to start public trading since August—the second just this week—after it successfully completed a merger with a special purpose acquisition company, also known as a SPAC.
Archer Aviation Is Latest eVTOL Firm To Start Public Trading
Key Takeaways:
- Archer Aviation has gone public on the NYSE through a SPAC merger, making it the third air taxi developer to do so recently, although it raised less capital than initially projected due to shareholder redemptions.
- The company is developing its "Maker" eVTOL aircraft, which is expected to begin flight testing this year, with a four-seat production version planned for 2022, aiming to provide environmentally friendly urban air mobility.
- Archer has secured a $1 billion order from United Airlines and passed a key FAA certification threshold, despite being embroiled in a legal dispute with rival Wisk Aero.
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