Archer Aviation’s Maker eVTOL aircraft sits at the test facility in California. [Courtesy: Archer Aviation]
Key Takeaways:
Archer Aviation reported strong cash reserves ($746.9 million) at the end of 2021, which it plans to utilize for its goal of achieving Part 135 certification for its Maker eVTOL aircraft by 2024.
The company made tangible progress in late 2021, completing the Maker aircraft's first hover test and conducting critical wind tunnel tests, while also simplifying its business roadmap into four key areas.
Archer successfully avoided criminal charges in a trade secret lawsuit initiated by Wisk Aero (though a civil suit continues) and is focusing on earning the FAA G-2 paper and selecting a manufacturing site in 2022, aiming to be an early market entrant.
In its fourth-quarter and full-year earnings call Monday, eVTOL manufacturer Archer Aviation (NYSE: ACHR) said it ended Q4 2021 with $746.9 million in cash and cash equivalents.
In a statement, Archer said, “The importance of certification is ingrained in Archer’s DNA,” and that the capital will be critical for earning its Part 135 certification on its Maker vehicle by 2024.
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Michael Wildes holds a master’s degree in Logistics & Supply Chain Management, and a bachelor’s degree in Aeronautical Science, both from Embry-Riddle Aeronautical University. Previously, he worked at the university’s flight department as a Flight Check Airman, Assistant Training Manager, and Quality Assurance Mentor. He holds MEI, CFI & CFII ratings. Follow Michael on Twitter @Captainwildes.
