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Archer Aviation Inc (NYSE:ACHR) is reportedly gearing up to launch its electric air-taxi service in the United Arab Emirates (UAE) by the end of next year.
This is expected to lead to an intensifying competition with Joby Aviation Inc (NYSE:JOBY) in the regional commuter service arena.
Chief Executive Officer Adam Goldstein revealed plans to operate in both Abu Dhabi and Dubai, securing regulatory assurance for the venture, according to a report from Bloomberg.
Goldstein emphasized Archer’s commitment to the certification process in the U.S., assuring confidence despite recent industry scrutiny.
Last month, the company announced the successful completion of rigorous battery pack drop testing conducted at a National Institute for Aviation Research lab.
This serves as a milestone in the development of the company’s proprietary electric propulsion system for its Midnight aircraft, putting Archer in a strong position to complete the upcoming for-credit testing with the FAA.
Also Read: Flying Cars Are Here, But It May Take Some Time Before They Land
Price Action: ACHR shares are trading higher by 4.13% at $4.509 on the last check Wednesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
