Archer Signs Framework Agreement For Multi-Hundred-Million Dollars To Accelerate Commercial Air Taxi Operations Across UAE
April 25 2024 - 8:00AM
Business Wire
- Archer is working with Abu Dhabi to operationalise its air taxi
services, in-country manufacturing, and training across the
region
- Archer is coordinating with government partners across Abu
Dhabi to develop the necessary vertiports and charging
infrastructure
- Archer and ADIO (Abu Dhabi Investment Office) jointly define an
ambitious set of operational launch plans and corresponding
enablement support
Archer Aviation Inc., a leader in the development of electric
vertical takeoff and landing (eVTOL) aircraft, announced the
signing of a framework agreement in Abu Dhabi today at the DRIFTx
mobility event, held at the Yas Marina Circuit showcasing the
latest in advanced urban mobility, driving discussions,
collaboration, and innovation across the sector. This agreement
covers multi-hundred-million dollar investments to accelerate
Archer’s planned commercial air taxi operations in the UAE, slated
to launch as soon as next year, including in-country manufacturing,
operations and training across the region. This comprehensive
agreement positions Abu Dhabi as one of the world’s leaders in
promoting urban air mobility, with plans to commence air taxi
operations with Archer’s Midnight aircraft as soon as next
year.
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Archer and ADIO (Abu Dhabi Investment
Office) jointly define an ambitious set of operational launch plans
and corresponding enablement support (Photo: Business Wire)
Key components of Archer’s collaboration with ADIO include
vertiport construction, operational enablement for air taxi
operations in the UAE, and in-country manufacturing of Archer’s
Midnight aircraft. Under the agreement, ADIO will also ensure local
workforce development programmes for Emirati talent and facilitate
the establishment of Archer’s international headquarters and Centre
of Excellence in Abu Dhabi.
“This substantial agreement with Abu Dhabi is a pivotal moment
for Archer’s commercialisation efforts across the Emirates, as it
provides the catalyst to accelerate the launch of our electric air
taxi service in the UAE as soon as late 2025. The agreement
underscores Abu Dhabi’s strong commitment to Archer and conviction
to become a global hub for urban air mobility. With Abu Dhabi’s
support, we are poised to continue leading the transformation of
urban transportation in the Emirate and across the globe,” said
Archer founder and CEO, Adam Goldstein.
“Abu Dhabi is leading the way in accelerating the launch of
electric air taxis globally, and ADIO is proud to partner with
Archer as one of the world’s most innovative companies. We are
excited to support Archer toward establishing its international
headquarters in Abu Dhabi, and to develop a comprehensive
investment framework that will accelerate its progress towards
manufacturing and operating its Midnight aircraft in the UAE,” said
Badr Al-Olama, Director General of ADIO.
Under this agreement, ADIO will support the development of
vertiports, in collaboration with Archer and other air taxi
operators, in critical locations throughout Abu Dhabi, enhancing
the urban air mobility infrastructure necessary for Archer to scale
operations.
ADIO and Archer first announced their memorandum of
understanding at the 2023 launch of ADIO’s Smart and Autonomous
Vehicles Industry (SAVI) cluster, which aims to transform the
future of urban mobility globally by supporting the innovation and
commercialisation of smart and autonomous vehicles across land,
sea, and air. The framework agreement announced at DRIFTx with
Archer represents the culmination of six months of close
collaboration between the two entities.
Importantly, ADIO and Archer will continue to work with Archer’s
partners to accelerate the company’s progress in the region. With
the support of its early investor and UAE’s sovereign wealth fund
Mubadala, Archer’s partner operators Falcon Aviation and Air
Chateau, and GAL-AMMROC have announced plans to provide
maintenance, repair and overhaul support for Archer’s eVTOL
aircraft.
Archer’s goal is to transform urban travel, replacing 60- to
90-minute commutes by car with estimated 10- to 20-minute electric
air taxi flights that are safe, sustainable, low noise, and
cost-competitive with ground transportation. Archer’s Midnight is a
piloted, four-passenger aircraft designed to perform rapid
back-to-back flights with minimal charge time between flights.
About Archer
Archer is designing and developing electric vertical takeoff and
landing aircraft for use in urban air mobility networks. Archer’s
mission is to unlock the skies, freeing everyone to reimagine how
they move and spend time. Archer's team is based in Santa Clara,
CA.
To learn more, visit www.archer.com.
Forward-Looking Statements
This press release contains forward looking statements regarding
Archer’s business plans and expectations, including statements
regarding its aircraft performance and the timing of Archer’s
development, commercialization, and certification of its eVTOL
aircraft, business opportunities, government incentives, potential
investments by third parties in Archer, expansion of Archer’s
business internationally, and the building of Archer’s
international headquarters and international manufacturing
facilities. In addition, this press release refers to a framework
agreement that is conditioned on the future execution by the
parties of additional binding definitive agreements incorporating
the terms outlined in the framework agreement, which definitive
agreements may not be completed or may contain different terms than
those set forth in the framework agreement. These forward-looking
statements are only predictions and may differ materially from
actual results due to a variety of factors. The risks and
uncertainties that could cause actual results to differ from the
results predicted are more fully detailed in Archer’s filings with
the Securities and Exchange Commission, including its most recent
Annual Report on Form 10-K and Quarterly Report on Form 10-Q,
available at www.sec.gov. In addition, please note that any
forward-looking statements contained herein are based on
assumptions that Archer believes to be reasonable as of the date of
this press release. Archer undertakes no obligation to update these
statements as a result of new information or future events.
Source: Archer
Text: ArcherIR
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