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Japan Airlines’ and Sumitomo’s joint venture company intends to purchase up to 100 Midnight aircraft to certify and commercialize AAM services across Japan.
Toyota Motor Corp. is investing an additional $500 million to support the certification and commercial production of Joby Aviation Inc.’s eVTOL aircraft.
Over the last 8 months, Archer Aviation has completed a total of 402 test flights with its composites-intensive aircraft, adding to key milestones.
400,000-square-foot facility will support Archer's goal of producing up to 650 Midnight aircraft per year.
Archer Aviation has made several key announcements including additional secured equity capital, network plans in LA and updates to a contract with the U.S. Air Force.
The $117 million award, believed to be CAEATFA’s largest to date in AAM, will support Archer’s planned expansion of battery pack and aircraft production facilities intended to support eVTOL commercialization.
Following Midnight’s recent flight test milestone, the automaker’s strategic funding agreement buildings on $39 million worth of Archer stock and $110 million investment in 2023.
Stellantis signals its continued confidence and partnership in the eVTOL company with the purchase of nearly 8.3 million shares.
The composite eVTOL developer has now received two key operational certificates required from the FAA to begin operations when Midnight receives type certification.
This is Archer’s second full-scale eVTOL aircraft to achieve this milestone, critical to being able to carry commercially viable passenger payloads.
