Archer Aviation rises after asserting air taxi launch in UAE by 2026 By Investing.com
Investing.com — Shares of air-taxi maker Archer Aviation Inc (NYSE:) up greater than 8% at $8 on Friday after it enter into an settlement to launch first industrial electrical vertical takeoff and touchdown (eVTOL) plane in UAE by 2026.
It entered a multiparty collaboration settlement with key UAE and Abu Dhabi entities to advance electrical vertical takeoff and touchdown (eVTOL) air taxi operations in Abu Dhabi.
Archer Aviation will turn into the primary eVTOL producer within the Center East and North Africa (MENA) area as a part of the settlement.
The corporate may even set up native manufacturing capabilities for its plane, for the event of flying taxi companies.
The collaboration additional positions Abu Dhabi as a worldwide chief in sensible and autonomous transportation options.
