NANCY PAUWELS
Archer Aviation (NYSE:ACHR) Chief Executive Officer Adam Goldstein confirmed in an interview with Bloomberg that the San Jose-based company plans to fly in both Abu Dhabi and Dubai by the end of 2025. Crucially, Goldstein noted that the company has been assured by regulators that it has approval for the flights.
The development means that Archer Aviation (ACHR) will be in direct competition with Joby Aviation (NYSE:JOBY) as both eVTOL players look to launch a commuter service business in the region.
The United Arab Emirates appears to be ground zero for the launch of commercial flying taxi services. Joby Aviation (JOBY) expects to launch in Dubai before anywhere else. In addition to those two major players, eVTOL upstarts Lilium N.V. (LILM), Embraer's (ERJ), Eve Air Mobility, and Volocopter GmbH have also signed agreements in the UAE, Saudi Arabia, or both.
Shares of Archer Aviation (ACHR) have outperformed Joby Aviation (JOBY) over the last 52 weeks.
More on Archer Aviation
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- Archer Aviation Inc. (ACHR) Q4 2023 Earnings Call Transcript
- Archer Aviation: Execution On Point And Balance Sheet Remains Sound
- Joby Aviation and other eVTOL players look to the United Arab Emirates for initial launches
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