- Abu Dhabi Investment Office (ADIO) and Archer held a signing
ceremony today at which they, along with other aviation industry
leaders from across the region, including Falcon Aviation and
GAL-AMMROC, will support the launch of Archer’s all-electric air
taxi service across the UAE.
- Archer and Abu Dhabi Investment Office (ADIO) entered today
into a memorandum of understanding (MOU) that sets forth their
plans to accomplish the following initiatives:
- Archer launching an all-electric air taxi service across the
UAE with the goal of starting service in 2026.
- ADIO to support Archer’s plans to launch in the UAE, through
incentives
- Archer building an engineering Center of Excellence to support
the growing advanced air mobility industry in the UAE and across
the Middle East and to collaborate with local manufacturing
companies and Maintenance, Repair, and Overhaul (MRO) providers in
Abu Dhabi to spearhead the production of eVTOL aircraft, furthering
Abu Dhabi’s efforts to grow its Smart and Autonomous Vehicle
Industry (SAVI) cluster.
- In celebration of this strategic initiative to bring Archer to
the UAE, Archer, which counts Mubadala Capital, the asset
management subsidiary of Abu Dhabi sovereign wealth fund Mubadala
Investment Company as one of its investors, will showcase their
Midnight aircraft to the region for the first time at the Dubai
Airshow, as well as the Conference on Aviation and Alternative
Fuels (CAAF) hosted by the General Civil Aviation Authority (GCAA)
the following week in Dubai.
Archer Aviation Inc. (NYSE: ACHR), a leader in electric vertical
takeoff and landing (eVTOL) aircraft, announced today that 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.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20231013927191/en/
His Excellence Badr Salim Al-Olama,
Archer CEO Adam Goldstein and CCO Nikhil Goel During Signing
Ceremony Announcing Archer’s Plans To Make the UAE Its First
International Launch Partner (Photo: Business Wire)
ADIO and Archer held a signing ceremony today at which they,
along with several other aviation industry participants from across
the region, including Falcon Aviation and GAL-AMMROC, committed to
support this strategic initiative. 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.
His Excellency Saif Mohammed Al Suwaidi, Director General of the
General Civil Aviation Authority, said: “The GCAA recently visited
Archer Aviation’s global headquarters in California to inspect its
Midnight aircraft and learn about their certification progress with
the Federal Aviation Administration. Our goal is to approve
Archer’s air taxi to fly in the UAE as soon as it is certified by
the FAA, and we are very excited to collaborate with them to bring
electric air taxis to the country.”
His Excellency Badr Al-Olama, Acting Director General of the Abu
Dhabi Investment Office, said: “We are thrilled to work with Archer
to host their first international operations in Abu Dhabi. Bringing
electric aviation to the UAE will help unlock congestion with zero
emissions and, in turn, bring millions in foreign direct investment
and thousands of jobs to the region over the next decade.”
Archer has raised over $1.1 billion of funding to date,
including investments from Mubadala Capital, United Airlines,
Stellantis, and Boeing.
Archer Aviation’s Founder and CEO, Adam Goldstein, said, “We are
excited to announce this joint collaboration for the United Arab
Emirates to become our first international market outside of the
United States. Archer plans to partner closely with ADIO and the
Department of Economic Development to bring manufacturing and
operations for our air taxis to the region. Together, we are
positioned to be a driving force in making all-electric air taxis a
reality in the skies of the UAE and beyond in the coming
years.”
Meera Al Suwaidi, Head of Value Creation at Mubadala Investment
Company, said: “Through our asset management subsidiary Mubadala
Capital, we have been an investor in Archer for several years. We
are looking forward to working alongside them for the debut of
their Midnight aircraft at the Dubai Air Show later this year, and
to continue discussions on further expanding our
collaboration.”
Carlos Tavares, CEO of Stellantis, said, “We are excited to be
working with Archer to begin establishing a high-volume
manufacturing facility for the Midnight aircraft in the United
States over the last couple of years. We hope this first production
site will be a blueprint for future Archer manufacturing facilities
as it expands operations to serve new regions, starting with the
Middle East, where we see extraordinary potential for urban air
mobility.”
Archer is working with numerous industry partners across the UAE
to support its plans to commercialize operations in the UAE by
2025. Today, Archer signed MOUs with Falcon Aviation who will
operate its air taxis across Dubai and Abu Dhabi, as well as
GAL-AMMROC who will provide MRO support for Archer’s eVTOL
aircraft.
Falcon Aviation Vice Chairman, Sheikh Mohammed Bin Sultan Bin
Khalifa, said, “Falcon Aviation has built an unparalleled
reputation for flying passengers in helicopters across the UAE for
nearly two decades. With this agreement with Archer, we look
forward to continuing to provide world-class passenger transport in
all-electric air taxis across Dubai and Abu Dhabi in the next
decades to come.”
Mahmood Alhay Alhameli, CEO of GAL & AMMROC, commented:
“Based on Archer’s eVTOL technology, their plans to launch and
manufacture in the UAE, coupled with our trusted experience in
providing maintenance, repair, and overhaul services for our wide
range of industry-leading clients, GAL & AMMROC is proud to
have been chosen as the ideal launch partner for Archer.”
Archer’s goal is to transform urban travel, replacing
60–90-minute commutes by car with estimated 10-20 minute electric
air taxi flights that are safe, sustainable, low noise, and
cost-competitive with ground transportation. Archer’s Midnight is a
piloted, four-passenger aircraft designed to perform rapid
back-to-back flights with minimal charge time between flights.
About Archer
Archer is designing and developing electric vertical takeoff and
landing aircraft for use in urban air mobility networks. Archer’s
mission is to unlock the skies, freeing everyone to reimagine how
they move and spend time. Archer's team is based in Santa Clara,
CA.
To learn more, visit www.archer.com.
Archer Forward Looking Statements
This press release contains forward looking statements regarding
Archer’s future business plans, including statements regarding the
timing of Archer’s development, commercialization, and
certification of its eVTOL aircraft, business opportunities,
government incentives, potential investments by third parties in
Archer, expansion of Archer’s business internationally, and the
building of Archer’s international headquarters and international
manufacturing facilities. In addition, this press release refers to
MOUs that are conditioned on the future execution by the parties of
binding definitive agreements incorporating the terms outlined in
the MOUs, which definitive agreements may not be completed or may
contain different terms than those set forth in the MOUs. These
forward-looking statements are only predictions and may differ
materially from actual results due to a variety of factors. The
risks and uncertainties that could cause actual results to differ
from the results predicted are more fully detailed in Archer’s
filings with the Securities and Exchange Commission, including its
most recent Annual Report on Form 10-K and Quarterly Report on Form
10-Q, available at www.sec.gov. In addition, please note that any
forward-looking statements contained herein are based on
assumptions that Archer believes to be reasonable as of the date of
this press release. Archer undertakes no obligation to update these
statements as a result of new information or future events.
Source: Archer Text: ArcherIR
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