Archer Aviation Shares Soar Following Abu Dhabi eVTOL Deal
Archer Aviation Inc. (NYSE: ACHR) shares rose by 10% following the announcement of a significant partnership aimed at launching commercial electric air taxi operations in Abu Dhabi. This marks a pioneering step for the company in the Middle East and North Africa (MENA) region. The collaboration involves the Abu Dhabi Investment Office (ADIO), Abu Dhabi Airports, and other key aviation stakeholders, and aims to accelerate the introduction of electric vertical take-off and landing (eVTOL) air taxis in the Emirate.
The agreement, prepared under the guidance of the Smart and Autonomous Systems Council (SASC), was signed in the presence of His Excellency Sheikh Hamdan bin Mohamed bin Zayed Al Nahyan. His Excellency Badr Al-Olama, Director General of ADIO, noted that the partnership underscores Abu Dhabi's commitment to advancing smart mobility solutions and positioning the city as a leader in autonomous vehicles. His Excellency Saif Mohammed Al Suwaidi, Director General of the United Arab Emirates General Civil Aviation Authority (GCAA), highlighted the critical role of collaboration in safely launching air taxis in the UAE.
Archer Aviation is preparing to become the region's first eVTOL manufacturer, with the support of a consortium that includes Falcon Aviation Services, Etihad Aviation Training, GCAA, Global Air Navigation Services (GANS), Global Aerospace Logistics (GAL), and the Integrated Transport Centre (Abu Dhabi Mobility).
This partnership builds upon a one-week certification workshop held in November 2024 at Archer's headquarters, focusing on establishing the regulatory framework needed for the certification of Archer's Midnight aircraft for commercial operations in the UAE. Nikhil Goel, Archer's Chief Commercial Officer, recognized the support from local partners and Abu Dhabi's progressive approach to transportation, identifying the UAE as a cornerstone for the company's future growth. This initiative is part of Abu Dhabi's efforts to foster innovation in urban mobility and sustainable transportation.
Recognized for advancements in the electrification of aviation, Archer Aviation aims to reduce congestion in densely populated urban areas with its specialized technology. The company's new partnerships and anticipated developments in Abu Dhabi represent a significant advancement in the field of urban air mobility.
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