SANTA CLARA, Calif. -- Archer Aviation Inc has received a $10 million pre-delivery payment from United Airlines for 100 of Archer's initial production eVTOL aircraft. United is making the deposit on the 100 production aircraft that it agreed to purchase from Archer in 2021.
Archer recently completed Preliminary Design Review (PDR) of its production aircraft, and is now moving to the next stage of its development and commercialization efforts, including the start of manufacturing of long-lead-time hardware.
Recently, United formed a Joint eVTOL Advisory Committee with Archer, allowing the parties to work more closely on eVTOL maintenance and operational matters. Committee members include Archer's operations and maintenance leadership, as well as leadership from United's maintenance, materials, and engineering groups.
"I am incredibly proud of the entire Archer team as we reach this milestone in our partnership with United Airlines. To receive a cash deposit is validation of Archer's achievements to date, not only with flight testing and product development, but also a great signal of confidence in our roadmap to commercialization," said Adam Goldstein, Archer CEO. "We're thankful to United for their continued partnership as we usher in this new era in air travel."
"This announcement marks a new, important phase in our relationship with Archer, and our commitment to eVTOL technology. We are witnessing an inflection point where consumers, businesses, and policymakers are all aligned to prioritize technology that reduces the impact of climate change," said Michael Leskinen, President of United Airlines Ventures. "United Airlines Ventures has invested in a diverse roster of companies working in support of our goal to reach carbon neutrality by 2050, without the use of traditional carbon offsets. We believe eVTOLs have the potential to both help achieve carbon-neutral travel and serve as an innovative new tool to change how United customers experience comfort, convenience, and efficiency during their commutes within cities across the globe."
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