Archer Aviation To Make 250 Electric Air Taxis In 2025: Report

Archer Aviation To Make 250 Electric Air Taxis In 2025: Report
  • Archer Aviation Inc ACHR proposed to make about 250 battery-electric air taxis in 2025 and scale up production in the following years after planning to get its aircraft certified by the end of 2024.
  • "In our first year, we will build 250 aircraft, our second year will build 500 aircraft, our third year will build 650 aircraft, and then we scale it up to around 2,000 aircraft per year," CEO Adam Goldstein told Reuters in an interview.
  • Also Read: Delta Partners With Flying Taxi Maker For Rides To Airports
  • Archer aims to certify its pilot-plus-four-passenger aircraft, 'Midnight,' by the end of end-2024. However, the U.S. Federal Aviation Administration (FAA) is still drawing up certification rules for these futuristic aircraft.
  • "In terms of aircraft production, we have estimated in our Archer model ~20 units in 2025," the report cited JPM analyst Bill Peterson.
  • Goldstein anticipates that the industry may see demand for a thousand eVTOL aircraft annually.
  • Price Action: ACHR shares traded lower by 2.72% at $2.69 on the last check Monday.

Posted In: BriefsNewsPenny StocksSmall CapMedia