Core Viewpoint - Archer Aviation is partnering with various companies to develop and test electric vertical takeoff and landing aircraft operations in Saudi Arabia, indicating a strengthening international presence in the electric air taxi market [1][4]. Company Developments - Archer is expected to generate revenue starting next year and is forming partnerships with major governments, including the Saudi Arabian Public Investment Fund [4]. - The company has established partnerships with technology firms like Stellantis, a major automobile manufacturer [5][7]. - Archer and its competitor Joby are both past the development phase and are currently focused on testing and obtaining regulatory approvals [3][6]. Industry Trends - The electric vertical takeoff and landing vehicle space is anticipated to become the norm, with increasing investments from countries like Saudi Arabia, Dubai, and Abu Dhabi due to favorable regulatory environments [2][4]. - Both Archer and Joby are overcoming previous challenges related to battery weight and efficiency, which is crucial for the viability of electric air taxis [8]. Market Performance - Archer's stock has seen a decline over the last 30 days, reflecting broader trends among high-risk growth stocks that have yet to generate revenue, although it remains higher year-to-date [8]. - The market is scrutinizing the growth story of electric air taxi companies, particularly regarding the high costs of continued development and the lack of consistent profitability [9].
ACHR Sets Sights on Saudi Arabia with New eVTOL Deal