Archer, a leading Urban Air Mobility (“UAM”) company and developer of all-electric vertical take-off and landing (“eVTOL”) aircraft, and Atlas Crest Investment Corp., a special purpose acquisition company, today announced they have entered into a definitive agreement for a business combination that would result in Archer becoming a publicly listed company.
It is anticipated that the post-closing company, Archer, will be listed on the NYSE with ticker symbol “ACHR.”
Based in Palo Alto and led by co-founders and co-CEOs Brett Adcock and Adam Goldstein, Archer’s mission is to advance the benefits of sustainable air mobility and become the leader in the new era of UAM, a $1 trillion plus market, according to leading industry research.
CONTENT: Press Release
CHICAGO, Feb. 12, 2021 /3BL Media/ United Airlines recently announced that it has completed an agreement to work with air mobility company Archer as part of the airline s broader effort to invest in emerging technologies that decarbonize air travel. Rather than relying on traditional combustion engines, Archer s electric vertical takeoff and landing (eVTOL) aircraft are designed to use electric motors and have the potential for future use as an air taxi in urban markets.
Under the terms of the agreement, United will contribute its expertise in airspace management to assist Archer with the development of battery-powered, short-haul aircraft. Once the aircraft are in operation and have met United s operating and business requirements, United, together with Mesa Airlines, would acquire a fleet of up to 200 of these electric aircraft that would be operated by a partner and are expected to give customers a quick, economical and low-carbon way to get to Uni
Archer's electric vertical takeoff and landing (eVTOL) aircraft are designed to use electric motors and have the potential for future use as an 'air taxi' in urban markets | eTurboNews | Trends | Travel News Online | Airline News
/PRNewswire/ United Airlines today announced that it has completed an agreement to work with air mobility company Archer as part of the airline s broader.
- January 12, 2021, 9:10 AM
Archer says it will be ready to begin commercial operations with its four-seat eVTOL aircraft in 2024. (Image: Archer)
Fiat Chrysler Automobiles (FCA) is partnering with eVTOL developer Archer to provide composite materials and engineering support for the four-passenger aircraft due to be unveiled this year. The U.S.-based carmaker, which has not disclosed whether it is making a direct investment in Archer, is following the lead of Asian rivals Hyundai and Toyota, which have both made big financial commitments to the advanced air mobility sector.
California-based Archer, which launched in May, plans to start volume production of its unnamed aircraft by 2023 and begin commercial operations it describes as “airline” service in 2024. This year, it expects to begin flight testing a full-scale prototype for an all-electric fixed-wing aircraft that would fly up to 60 miles at speeds of 150 mph.