United Pays $10M Pre-Delivery Payment to Archer for 100 eVTOL Aircraft
Archer Aviation [NYSE:ACHR] is one of the holdings in the AdvisorShares Drone Technology ETF [NYSE ARCA:UAV], the only ETF dedicated to the drone economy. The AdvisorShares Drone Technology ETF is a thematic investment strategy seeking to capture the growth opportunities in drones and autonomous vehicles (AV). AdvisorShares is a DRONELIFE sponsor.
by DRONELIFE Staff Writer Ian M Crosby
Today, Archer Aviation announced that United Airlines has submitted a pre-delivery payment of $10 million for 100 of Archer’s initial production eVTOL aircraft.
DroneLife · United – Puts – 10 – Million – Down – On – 100 – Archer – EVTOLs
This serves as a major milestone for the eVTOL industry, illustrating trust in the commercialization of eVTOL aircraft as well as Archer’s leadership. United initially agreed to the purchase of 100 aircraft from Archer last year, demonstrating its interest in becoming one of the first U.S. airline operators to bring eVTOL aircraft to market.
Archer recently completed its production aircraft’s Preliminary Design Review (PDR), a thorough evaluation of the aircraft design to guarantee the program is ready to advance to the next stage of development and initiate the production of long lead time hardware. The review examines each element of the aircraft’s specifications and manufacturing requirements in order to assess the design’s feasibility for regulatory compliance and to bring to market.
This is United’s latest showing of support throughout Archer’s development process. The two companies recently formed a Joint eVTOL Advisory Committee, enabling both parties to more closely collaborate on eVTOL maintenance and operational concerns. The committee features members from Archer’s operations and maintenance leadership, as well as United’s maintenance, materials, and engineering leadership.
“I am incredibly proud of the entire Archer team as we reach this milestone in our partnership with United Airlines,” said Archer CEO Adam Goldstein. “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. 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 United Airlines Ventures President Michael Leskinen. “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.”
Read more about Archer:
Ian attended Dominican University of California, where he received a BA in English in 2019. With a lifelong passion for writing and storytelling and a keen interest in technology, he is now contributing to DroneLife as a staff writer.
Miriam McNabb is the Editor-in-Chief of DRONELIFE and CEO of JobForDrones, a professional drone services marketplace, and a fascinated observer of the emerging drone industry and the regulatory environment for drones. Miriam has penned over 3,000 articles focused on the commercial drone space and is an international speaker and recognized figure in the industry. Miriam has a degree from the University of Chicago and over 20 years of experience in high tech sales and marketing for new technologies.
For drone industry consulting or writing, Email Miriam.
TWITTER:@spaldingbarker
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