Archer Aviation Spreads Its Wings: Teams Up With InterGlobe For Electric Air Taxi Launch In India By 2026
Portfolio Pulse from Nabaparna Bhattacharya
Archer Aviation Inc. (NYSE:ACHR) has signed a memorandum of understanding with InterGlobe Enterprises to launch an all-electric air taxi service in India by 2026. The partnership plans to finance the purchase of up to 200 of Archer's Midnight aircraft for the India operations. The companies also plan to collaborate with local business partners to manage operations, fund and construct vertiport infrastructure, and provide training for pilots and other essential personnel.
November 09, 2023 | 10:55 am
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Archer Aviation's partnership with InterGlobe Enterprises to launch an electric air taxi service in India could potentially boost its revenues and expand its global footprint.
The partnership with InterGlobe Enterprises opens a new market for Archer Aviation in India, which could lead to increased sales and revenues. The planned purchase of up to 200 of Archer's Midnight aircraft for the India operations could provide a significant boost to the company's revenues. Additionally, the collaboration with local business partners could help Archer Aviation establish a strong presence in the Indian market.
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