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Southwest Airlines Signs Memorandum of Understanding With Archer Aviation to Develop Operational Concepts for Air Taxi Network
Southwest Airlines Co. (NYSE: LUV) and Archer Aviation Inc. (NYSE: ACHR) have signed a memorandum of understanding (MOU) to develop operational plans for electric air taxi networks utilizing Archer’s eVTOL aircraft at California airports where Southwest® operates. Archer Aviation is a leading manufacturer of electric vertical takeoff and landing (eVTOL) aircraft.
Southwest and Archer intend to collaborate on a concept of operations that lays the foundation for integrated electric air taxi networks that would support California airports and the surrounding communities that Southwest serves. This collaboration will include partnering with Southwest employees and respective unions, including SWAPA, to maintain and improve efficient operations. This is a key step toward potentially offering Southwest customers an airport transport service that saves time by streamlining the door-to-door passenger journey.
Stellantis Invests Additional $55 Million In Archer Following Recent Flight Test Milestone
Stellantis N.V. and Archer Aviation Inc., a leader in electric vertical takeoff and landing (eVTOL) aircraft, announced Archer has received an additional $55 million investment from Stellantis under the companies’ strategic funding agreement following the achievement of its transition flight test milestone last month.
Archer remains on track to complete construction of its high-volume manufacturing facility in Georgia later this year. This first phase of the build out is a ~350,000 square foot facility on an ~100 acre site designed to support production of up to 650 aircraft annually, which would make it one of the largest manufacturing facilities by volume in the aircraft industry. Archer’s goal with this facility remains to establish a factory that can support its planned commercial ramp up by leveraging the expertise of Stellantis as its contract manufacturer.
✈️ Archer Accelerates Path to Market: Secures $215M Investment From Stellantis, Boeing, United Airlines, ARK Invest and Others
Archer Aviation Inc. (NYSE: ACHR), a leader in electric vertical takeoff and landing (eVTOL) aircraft, today announced operating and financial results for the second quarter ended June 30, 2023. In tandem with earnings, Archer made a series of announcements that reinforce its path to FAA certification and commercial operations in 2025. Archer has landed a $215 million equity investment from industry leaders Stellantis, Boeing and United Airlines, as well as other financial institutions, including ARK Invest, increasing the company’s total funding to over $1.1 billion to date, received FAA approval to begin flying its Midnight eVTOL aircraft, and reached an agreement with Boeing and Wisk to enter into an autonomous flight collaboration and settle litigation between the companies. Additionally, Archer announced that it is on track to complete what it believes will be the first ever eVTOL aircraft delivery to a customer as part of its recently announced contracts with the Department of Defense (DoD). These announcements come on the heels of the FAA Administrator leaving to join Archer and the DoD awarding Archer the largest total contract value of any eVTOL company.