KakaoMobility Taps Archer Aviation As Its eVTOL Partner Including Purchase of up to 50 of Archer's Midnight eVTOL Aircraft Worth up to $250M, KakaoMobility Looks to Fund Archer's Korean Commercialization Efforts
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Archer Aviation Inc. (NYSE: ACHR) has partnered with KakaoMobility to supply up to 50 Midnight eVTOL aircraft worth up to $250M. This agreement includes pre-delivery payments and aims to support Archer's commercialization efforts in Korea. KakaoMobility will make an initial payment of $7M in 2024, followed by a second installment in Q1 2025.
May 30, 2024 | 10:07 am
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Archer Aviation has secured a partnership with KakaoMobility to supply up to 50 eVTOL aircraft worth up to $250M. This deal includes pre-delivery payments and aims to support Archer's commercialization efforts in Korea, with an initial $7M payment in 2024.
The partnership with KakaoMobility and the substantial order of up to 50 eVTOL aircraft worth $250M is a significant revenue opportunity for Archer Aviation. The initial payment of $7M in 2024 and subsequent installment in Q1 2025 will provide financial support for Archer's commercialization efforts in Korea, likely boosting investor confidence and positively impacting the stock price in the short term.
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