Archer Aviation Inc. (ACHR) stock surged 5.18% in Friday's intraday trading session, as the electric vertical takeoff and landing (eVTOL) aircraft manufacturer continues to make strides toward commercializing its flagship Midnight aircraft.
The Palo Alto-based company has secured over $6 billion in pre-orders for its Midnight eVTOL aircraft, positioning itself for substantial growth as it awaits regulatory approvals and prepares for production ramp-up. Archer Aviation expects to begin reporting revenues as early as 2025, with plans to scale up production to 650 aircraft annually by 2030.
Archer Aviation's strategic partnerships and defense contracts have fueled investor optimism, with the company collaborating with Anduril, Soracle (a joint venture between Japan Airlines and Sumitomo Corporation), and the Abu Dhabi Investment Office. These partnerships not only provide revenue opportunities but also validate the company's technology and growth prospects.
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