Archer Aviation Inc. (ACHR) is a pioneering California-based company striving to reshape urban mobility via the development and commercialization of electric vertical takeoff and landing aircraft, known as eVTOLs. It strives to make air transportation more sustainable, efficient and affordable through its cutting-edge technology solutions. Archer's eVTOL aircraft are designed to cut urban transportation times significantly and thereby increase people's lifestyle flexibility.
Founded in 2018 by Brett Adcock and Adam Goldstein, the company is focused on building all-electric vertical take-off and landing jets, primarily for use in congested urban areas. Archer Aviation's long-term vision is to alleviate urban congestion and provide a transformative and eco-friendly transportation option that can reach up to 60 miles at max speeds of up to 150 mph, with near-zero emissions compared to conventional helicopters.
Archer Aviation embarked on this ambitious journey with an unmatched team of aviation professionals with abundant experience across sectors like batteries, aerospace manufacturing, aircraft certification, and software. Currently, the team is working on developing the Maker aircraft, a demonstration aircraft that can effectively change transportation norms if it passes its expected commercial launch in 2024.
In June 2021, Archer Aviation unveiled their first electric flying taxi "Maker" in a flashy debut in Los Angeles as it races to win approval by the U.S. Federal Aviation Administration. This was seen as a game-changer and a step closer to the commercialization of electric air taxis.
Archer is also set to merge with blank-check company Atlas Crest Investment Corp. in a deal which gives the 3D-printed air taxi company an equity valuation of around $2.7 billion. The merger deal also includes a $600 million private investment in public equity (PIPE) from investors including United Airlines, Stellantis (Fiat Chrysler) and the investment banker Ken Moelis.
The company made headlines again recently when it confirmed a $1 billion order from United Airlines, marking one of the most significant orders for electric aircraft to date. All these advancements clearly indicate that Archer Aviation is not just crafting the future of transportation, they're accelerating it on a grand scale.
However, being a pioneer in a disruptive technology also means confronting major challenges. Recently, Archer Aviation had to deal with a patent infringement lawsuit filed by Wisk Aero, a Boeing-backed startup. Regardless, Archer continues to innovate, demonstrating its unwavering dedication to bringing eVTOL aircraft to the skies.