President Donald Trump last week unveiled an executive order designed to give a lift to electric vertical takeoff and landing (eVTOL) air taxis—and that support has translated to fresh investment.
Manufacturer Archer Aviation on Thursday announced a massive $850 million funding raise, its largest to date. Archer tied the investment directly to Trump’s order, which creates a three-year eVTOL Integration Pilot Program (eIPP) to study the design. It said the money will go toward building out electric charging infrastructure, artificial intelligence software, and other capabilities required to introduce its flagship Midnight in the coming months.
