Archer & Abu Dhabi Investment Office Announce Plan To Launch Archer's All-Electric Air Taxi Service Across The UAE
Portfolio Pulse from Benzinga Newsdesk
Archer Aviation Inc. (ACHR) and Abu Dhabi Investment Office (ADIO) have announced a plan to launch Archer's all-electric air taxi service across the UAE. The service is expected to start in 2026. ADIO will support Archer's launch through incentives. Archer will also build an engineering Center of Excellence to support the advanced air mobility industry in the UAE and the Middle East. Archer has raised over $1.1 billion of funding to date, including investments from Mubadala Capital, United Airlines, Stellantis, and Boeing.
October 16, 2023 | 1:04 pm
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Archer Aviation's partnership with ADIO to launch an all-electric air taxi service in the UAE could potentially boost the company's revenue and market presence. The company's funding from major investors also indicates strong financial backing.
The partnership with ADIO to launch Archer's all-electric air taxi service in the UAE is a significant development for the company. This could potentially increase the company's revenue and expand its market presence. Additionally, the company's funding from major investors such as Mubadala Capital, United Airlines, Stellantis, and Boeing indicates strong financial backing, which could support the company's growth and operations.
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