Archer eVTOLUnited Pays $10M Pre-Supply Fee to Archer for 100 eVTOL Plane

Archer Aviation [NYSE:ACHR] is without doubt one of the holdings within the AdvisorShares Drone Know-how ETF [NYSE ARCA:UAV], the one ETF devoted to the drone financial system. The AdvisorShares Drone Know-how ETF is a thematic funding technique searching for to seize the expansion alternatives in drones and autonomous autos (AV).  AdvisorShares is a DRONELIFE sponsor.

by DRONELIFE Workers Author Ian M Crosby

Right this moment, Archer Aviation introduced that United Airways has submitted a pre-delivery cost of $10 million for 100 of Archer’s preliminary manufacturing eVTOL plane.

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This serves as a significant milestone for the eVTOL business, illustrating belief within the commercialization of eVTOL plane in addition to Archer’s management. United initially agreed to the acquisition of 100 plane from Archer final yr, demonstrating its curiosity in turning into one of many first U.S. airline operators to carry eVTOL plane to market.

Archer eVTOLArcher not too long ago accomplished its manufacturing plane’s Preliminary Design Assessment (PDR), an intensive analysis of the plane design to ensure this system is able to advance to the subsequent stage of growth and provoke the manufacturing of lengthy lead time {hardware}. The assessment examines every aspect of the plane’s specs and manufacturing necessities with a view to assess the design’s feasibility for regulatory compliance and to carry to market.

That is United’s newest exhibiting of assist all through Archer’s growth course of. The 2 firms not too long ago shaped a Joint eVTOL Advisory Committee, enabling each events to extra intently collaborate on eVTOL upkeep and operational considerations. The committee options members from Archer’s operations and upkeep management, in addition to United’s  upkeep, supplies, and engineering management.

Archer eVTOL“I’m extremely happy with the complete Archer group as we attain this milestone in our partnership with United Airways,” mentioned Archer CEO Adam Goldstein. “To obtain a money deposit is validation of Archer’s achievements thus far, not solely with flight testing and product growth, but in addition an important sign of confidence in our roadmap to commercialization. We’re grateful to United for his or her continued partnership as we usher on this new period in air journey.”

“This announcement marks a brand new essential section in our relationship with Archer, and our dedication to EVTOL know-how. We’re witnessing an inflection level the place customers, companies, and policymakers are all aligned to prioritize know-how that reduces the affect of local weather change,” mentioned United Airways Ventures President Michael Leskinen. “United Airways Ventures has invested in a various roster of firms working in assist of our objective to succeed in carbon neutrality by 2050, with out the usage of conventional carbon offsets. We consider eVTOLs have the potential to each assist obtain carbon-neutral journey and function an progressive new instrument to alter how United clients expertise consolation, comfort, and effectivity throughout their commutes inside cities throughout the globe.”

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Ian attended Dominican College of California, the place he acquired a BA in English in 2019. With a lifelong ardour for writing and storytelling and a eager curiosity in know-how, he’s now contributing to DroneLife as a employees author.

 



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