Discussion. Flying Taxi, Falling Stock Price. Log in or sign up to leave a comment Log In Sign Up. The company said its electric vertical takeoff and landing aircraft would help address some of … best. CHICAGO, Feb. 10, 2021-- United Airlines today 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. report. Fiat Chrysler teams with startup Archer to build an electric air taxi The planned eVTOL craft would cruise at 150 MPH for up to 60 miles. Electric air taxi start-up Archer Aviation wins $1bn deal from United Airlines. Source: Archer Air To go from concept to certified aircraft, Archer is raising $1.1 billion through a SPAC merger with Atlas Crest Investment Corp. Courtesy Archer Aviation. S. Dent | 01.12.21. Archer — one of several Silicon Valley companies working on short-range air travel — has said it will take the wraps off of its aircraft early this year, but production won't start until 2023. Rather than relying on traditional combustion engines, Archer's eVTOL aircraft are designed to use electric motors and have the potential for future use as an "air taxi" in urban markets. Brett Adcock, Archer’s co-founder and co-CEO, says: “We’re thrilled to partner with Atlas Crest to help accelerate our goals of ushering in the next age of sustainable air mobility and enable human micro-exploration. share. The proceeds from Archer’s SPAC deal include about $500 million in … level 1. Another well-capitalized startup has officially entered the passenger air taxi arena. Archer Image . Joby Aviation is close to a deal to go public via a merger with blank-check company Reinvent Technology Partners (NYSE: RTP) in a deal that will value the eVTOL developer at $5.7 billion, according to the Financial Times. UPDATE, March 10, 2020: Archer said Tuesday it would begin an air taxi network in Miami in 2024, adding to its previous pledge of a similar network in Los Angeles. What exactly are you trying to say? SHARE. Archer’s full scale eVTOL aircraft is expected to be unveiled in 2021. February 10, 2021 - 7:00 am. Air taxi startup Archer is partnering with automaker FCA on production of its electric aircraft. The merger is valued at $3.8 billion. Share Via. Pictured is a two-passenger version of the company’s aircraft. Updated: 10 Feb 2021, 07:15 PM IST Bloomberg United Airlines also plans to buy as many as 200 of the startup's small flying taxis for $1 billion. Archer is one of several players in the emerging ‘urban air mobility’ segment, looking to shake up short-hop city transport using eVTOL (electric vertical takeoff and landing) aircraft. United Airlines steps up to buy $1B worth of Archer's future flying taxis. Feb 10, 2021. Flying taxis have the potential to revolutionize modern travel, ease traffic into cities, and reduce congestion. It’s with this in mind that we need a better understanding of the value proposition here which we previously described as urban air mobility. Archer Air Taxi vs Joby Air Taxi. His Holiness Elon Musk once remarked that we already have flying cars. EOS-7.55 % News. February 10, 2021. Posted by 12 days ago. FCA has already collaborated on cockpit design elements of Archer’s first flying taxi, which is expected to be unveiled in early 2021. The company secured additional funding worth $600m from a group of investors including Mubadala Investment Company . 11 days ago. Archer said the air taxis will be capable of flying a distance of 95 kilometres at 240 kilometres per hour and could nearly halve carbon dioxide emissions for passengers travelling to the airport. Joby Aviation, considered a leading eVTOL aircraft developer, is reported to be merging with a blank-check company to go public at a $5.7 billion valuation. Meet the Maker. Archer is one of numerous companies working to spur the market for a new breed of air taxi called electric vertical takeoff and landing aircraft, or eVTOLs. Close. Archer will go public via a SPAC deal that will net $1.1 billion in proceeds for the electric air taxi startup. The reverse-IPO deal will grant Archer approximately $500 million in cash held in trust along with a fully committed $600 million private investment in public equity, or PIPE. XRP-6.92 % Litecoin $ 213.00. 97% Upvoted. Archer's air taxi United Airlines, Moelis invest in electric air-taxi startup 2 min read. BTC-1.84 % Ethereum $ 1,791.62. Education Details: Urban Air Mobility. hide. United has now put in a (highly provisional) US$1 billion dollar order for “up to 200” of Archer’s Maker eVTOL air taxis, with an option for an additional 500 million’s worth down the track. Archer will manufacture high-volume, composite, electric vertical take-off and landing (eVTOL) aircraft, with the intent of starting production in 2023. This is our first look at Archer Aviation's 12-rotor eVTOL air taxi, but it won't be the last. Mary Sophia. Discussion. Sponsored Links. Sort by. @stevetdent. Its four-passenger vehicle ‘Maker’ has a range of around 100km and can fly at speeds up to 240km/h using six five-blade tilt rotors and six two-blade VTOL-only rotors. United Airlines plans to invest US$1.1 billion in air mobility startup Archer to develop a flying electric taxi within five years. Just put some wheels on a helicopter. It's a crowded market to get there, but Archer Aviation thinks a late start will help. The startup plans for a reveal of its eVTOL machine sometime this year, but United is onboard. On Feb. 13, 2021, Archer announced it will start air taxi service in Los Angeles (California, USA) by 2024 and Los Angeles is also one of United Airlines major hubs. It is also taking options for another $500 million of the taxis, which would take off and land vertically and be able to fly as far as 60 miles. save. Sean Szymkowski. Urban air mobility provider Archer is merging with Atlas Crest Investment (ACIC). Archer Air Taxi vs Joby Air Taxi. Hello everyone, today i will be talking about ACIC and Archer merge. ETH-1.87 % XRP $ 0.56. Rather than relying on traditional combustion engines, Archer's eVTOL aircraft are designed to use electric motors and have the potential for future use as an 'air taxi' in urban markets. 21. Lilium is well positioned to be a leader in the European eVTOL/air-taxi industry. Mesa Air Group Inc., will invest another $5 million in Archer, a United spokeswoman said. Wall Street's Ken Moelis says it can replace helicopters. Air taxi startup Archer secured an investment from United Airlines (UAL) after announcing plans to go public via a blank-check. Bitcoin $ 48,188.21. 8 comments. Archer is developing electric vertical-takeoff-and-landing aircraft to serve as an environmentally sustainable air taxi. Bitcoin News; Ethereum News; Ripple News; Litecoin News ; Altcoin News; Blockchain News; Business News; … Electric aircraft maker Archer Air has a deal with United Airlines and plans to be flying by 2024. Archer Aviation aims to unveil a prototype of its electric vertical takeoff and landing aircraft this year. Invest in Urban Air Mobility with Archer Aviation Stock . LTC-2.66 % EOS $ 4.80.