Archer Aviation secures $850 million funding for eVTOL development
- President Donald Trump's executive order on June 6 authorized faster commercialization of eVTOLs.
- Archer Aviation raised $850 million in funding shortly after the announcement, enhancing its operational capabilities.
- The development of eVTOL technologies is expected to revolutionize air transport and contribute positively to the U.S. economy.
In the United States, Archer Aviation has strategically positioned itself as a key player in the electric vertical takeoff and landing (eVTOL) aircraft industry. Following an executive order issued by President Donald Trump on June 6, aimed at accelerating the commercialization of eVTOLs and drones, Archer has been proactive in leveraging this opportunity. This order emphasizes the potential of emerging technologies like eVTOL aircraft to modernize air mobility and enhance various transportation methods. As part of its ambitious plans, Archer was named as the exclusive air taxi vendor for the 2028 Summer Olympics and Paralympics. This prestigious role highlights the urgency for clearance of bureaucratic processes to facilitate their operations effectively before the event. Archer’s founder and CEO, Adam Goldstein, expressed the necessity of prioritizing the promotion of eVTOL technology, which he believes can provide sustainable and efficient transportation alternatives. In conjunction with the ongoing efforts to expand its operational footprint, Archer secured $850 million through a registered direct stock offering shortly after the executive order. This funding represents a significant boost to the company’s capabilities and establishes a foundation for broader developments. Furthermore, Archer is looking to develop infrastructure for air taxi services in partnership with Jetex, a Dubai-based private aviation company, focusing initially on the UAE market. Meanwhile, the Israeli eVTOL company AIR has also been advancing its competitive position with the establishment of a sophisticated facility in Israel, complementing its growth strategy with an automated production line. The new infrastructure aims to facilitate high-volume production of eVTOLs, underscoring the expected rise in demand for this innovative technology. AIR has received substantial pre-orders, showing the market’s appetite for personal air transportation solutions. With these developments taking shape in several countries, stakeholders are optimistic regarding the future of eVTOL operations and their integration into existing transportation networks.