Archer Aviation Inc. (NYSE: ACHR) shares cleared the tower Monday, as the company, a leader in electric vertical takeoff and landing (eVTOL) aircraft, announced it has entered into an agreement with ADIO pursuant to which the parties intend to work together to make Abu Dhabi its first international launch partner, with plans to commence air taxi operations in Abu Dhabi in 2026. As part of this strategic initiative, ADIO plans to support Archer with incentives for establishing its first international headquarters and manufacturing facilities in the Smart and Autonomous Vehicle Industry (SAVI) Cluster in Abu Dhabi.
Archer is still in discussions with numerous other industry participants that it plans to announce MOUs with when the company is in the region to showcase its Midnight aircraft at the Dubai Air Show from November 13-17, as well as the Conference on Aviation and Alternative Fuels (CAAF) hosted by ICAO and the General Civil Aviation Authority (GCAA) the following week in Dubai.
Archer is seeking to work with its global manufacturing partner Stellantis, as well as local partners in the UAE, to build out its aircraft manufacturing capabilities and its Center of Excellence in Abu Dhabi. Archer’s Center of Excellence will be focused on the development and implementation of next-generation aviation technologies.
ACHR shares gained 4.5 cents, to $5.16.
