Actor, director and activist Christopher Reeve said in a 1996 speech, “So many of our dreams at first seem impossible, then they seem improbable, and then, when we summon the will, they soon become inevitable.”
On June 10, Archer Aviation unveiled its two-seat Maker electric vertical takeoff and landing (eVTOL) demonstrator during a special effects show at Hawthorne Municipal Airport in Los Angeles County, California.
Electric vertical takeoff and landing (eVTOL) aircraft developer Archer Aviation announced an agreement on Jan. 12 with Fiat Chrysler Automobiles — which has now merged with the French car company Groupe PSA (Peugeot) to form Stellantis — for the startup to benefit from the automaker’s low-cost supply chain, advanced composite material capabilities, and engineering and design experience.
A year after the electric vertical takeoff and landing (eVTOL) aircraft industry saw its first start-up valued at more than $1B (see “The First Electric VTOL Unicorn: Joby Aviation,” Vertiflite, March/April 2020), a growing number of companies across the advanced air mobility (AAM) industry are looking to merge with a Special Purpose Acquisition Company (SPAC) that is already publicly traded to raise the funds necessary to bankroll future growth.
Archer, a leading Urban Air Mobility (“UAM”) company and developer of all-electric vertical take-off and landing (“eVTOL”) aircraft, and Atlas Crest Investment Corp. (NYSE: ACIC), a special purpose acquisition company, today announced they have entered into a definitive agreement for a business combination that would result in Archer becoming a publicly listed company.
Archer and Fiat Chrysler Automobiles announced on Jan. 12, 2021 that they have entered into an agreement so Archer can benefit from access to FCA’s low-cost supply chain, advanced composite material capabilities, and engineering and design experience.
On May 21, electric vertical takeoff and landing (eVTOL) aircraft startup Archer unveiled its plans and progress to the world. The company is led by co-founders Brett Adcock and Adam Goldstein, serial entrepreneurs who recently sold hiring marketplace startup Vettery to The Adecco Group for over $100M.
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