Latest news with #airtaxi
Sustainability Times
a day ago
- Business
- Sustainability Times
Flying Over LA Gridlock: These American Air Taxis Promise a Spectacular Debut During the 2028 Olympic Games
IN A NUTSHELL 🚁 Archer Aviation will introduce its Midnight eVTOL air taxis during the 2028 Los Angeles Olympics. will introduce its Midnight eVTOL air taxis during the 2028 Los Angeles Olympics. 🌎 The initiative aims to transform urban mobility, offering a sustainable and efficient alternative to traditional vehicles. alternative to traditional vehicles. 📍 Strategic vertiports will be set up at key Olympic venues like LAX Airport and the LA Memorial Coliseum. will be set up at key Olympic venues like LAX Airport and the LA Memorial Coliseum. 🔍 This project highlights the potential of air taxis to revolutionize transportation in cities worldwide. The upcoming 2028 Olympic Games in Los Angeles promise not only thrilling athletic feats but also a groundbreaking leap in urban transportation. Archer Aviation, a San Jose-based company, will introduce its Midnight electric Vertical Take-Off and Landing (eVTOL) aircraft to the city's skyline. This innovation will redefine how people navigate the bustling streets of LA, offering a futuristic alternative to traditional traffic congestion. As the official air taxi partner for the Olympics, Archer Aviation aims to demonstrate the potential of air taxis in urban settings, paving the way for wider acceptance and usage in the future. Archer Aviation's Vision for the Future Archer Aviation envisions a future where urban transportation is seamless, efficient, and environmentally friendly. Their Midnight eVTOL is designed to reduce noise pollution and cut down on carbon emissions, making it a viable alternative to conventional vehicles. With its capacity to carry four passengers and one pilot, the Midnight is tailored for short-range trips across the city. This innovation is not only about convenience but also about creating a sustainable future for urban mobility. The Midnight is equipped with 12 engines and propellers, ensuring redundancy and safety that matches commercial airliners. Archer's collaboration with the Federal Aviation Administration (FAA) aims to certify the aircraft, ensuring it meets stringent safety standards. By operating from strategically placed vertiports, Archer plans to offer swift transportation solutions during the Olympics, highlighting its commitment to revolutionizing urban travel. This Toxic Mountain Is Now a Goldmine: Canada to Transform World's Largest Asbestos Dump Into Strategic Resource Hub The Significance of Air Taxis at the Olympics The introduction of air taxis at the 2028 Olympics marks a significant milestone in transportation history. Adam Goldstein, CEO and founder of Archer Aviation, expressed his excitement about showcasing this technology on a global stage. He sees the Olympics as an ideal platform to demonstrate the potential of eVTOLs in transforming urban mobility. The presence of air taxis emblazoned with the Team USA logo and Olympic symbols will symbolize the union of innovation and tradition. This initiative is not just about technological advancement; it is about creating a lasting impact on the future of transportation in America. The partnership with the Olympic committee and Team USA underscores the importance of collaboration in achieving ambitious goals. By setting up vertiports at key venues such as the LA Memorial Coliseum and SoFi Stadium, Archer aims to provide a seamless travel experience for athletes, fans, and VIPs alike. Autonomous 18-Wheeler Begins Freight Runs in the US as Self-Driving Tech Powers Massive Truck Through Live Highway Routes Strategic Locations for Maximum Impact Archer Aviation's strategic placement of vertiports is crucial for the success of this initiative. Locations like LAX Airport, Hollywood, Santa Monica, and Orange County are chosen for their accessibility and significance. These hubs will facilitate swift and efficient travel throughout the city, minimizing the time spent in traffic and maximizing the Olympic experience. The goal is to offer a reliable and exciting alternative to traditional transportation methods. The Midnight eVTOL's ability to operate quietly and efficiently over short distances makes it an ideal solution for urban environments. By reducing reliance on ground transportation, Archer aims to alleviate traffic congestion and provide a glimpse into the future of city travel. This strategic deployment during the Olympics will serve as a prototype for future urban air mobility systems, setting a precedent for cities worldwide. 'This Changes How You Poop Forever': Revolutionary Toilet Paper Breakthrough Redefines How Billions Clean Themselves Every Day Challenges and Opportunities Ahead ▶ While the introduction of air taxis presents numerous opportunities, it also comes with challenges. Ensuring the safety and reliability of eVTOLs in a busy urban environment requires rigorous testing and compliance with aviation standards. Archer Aviation is committed to addressing these challenges through continuous innovation and collaboration with regulatory bodies. The success of this initiative could pave the way for widespread adoption of air taxis in cities across the globe. The potential to revolutionize urban transportation is immense, offering solutions to some of the most pressing challenges faced by modern cities. As we look forward to the 2028 Olympics, one question remains: How will this bold step in transportation innovation influence the future of urban mobility? Our author used artificial intelligence to enhance this article. Did you like it? 4.4/5 (23)
Globe and Mail
2 days ago
- Business
- Globe and Mail
Where Will Archer Aviation Stock Be in 3 Years?
Makers of electric vertical takeoff and landing aircraft (eVTOLs) aim to revolutionize the transportation industry by allowing people to literally fly above urban traffic on short-haul routes. Archer Aviation (NYSE: ACHR) is an early mover in the air taxi space, and with its market cap at just $5.83 billion now, new investors can still get in early on what could be an exciting long-term growth opportunity. That said, potential rewards often correlate with potential risk in the stock market. And in late May, a report from short-seller Culper Research cast doubts about the quality of Archer Aviation's communications with investors and the public. Remember that short-sellers make money when a stock falls. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue » Culper Research is short Archer Aviation On May 20, Culper Research published a report titled "Archer Aviation (ACHR): When You Can't Earn Airtime in the Sky, Buy it on Late Night Television" and featuring an image of Archer Aviation CEO Adam Goldstein alongside Jimmy Fallon, host of The Tonight Show Starring Jimmy Fallon. Culper Research claims the company "systematically misled" investors about its progress toward developing and testing its flagship Midnight aircraft. The report cites examples from employee emails, photos, and public statements that the short-seller believes contradict Archer Aviation's claims about the progress of its eVTOL program. The stock didn't immediately drop after the report, but was down about 18% from the close of trading May 19 to the close on June 5. Archer's management fired back in a statement, dismissing the claims as "baseless" and questioning Culper's credibility. Short-sellers profit when the price of a stock that they have shorted goes down, which gives them an incentive to present such a company's situation as negatively as possible. That gives me pause about the Culper report. Furthermore, even if Archer Aviation is overselling the progress of its eVTOL program, that's par for the course for speculative tech companies. For example, Tesla CEO Elon Musk has frequently made projections about timelines and projects (such as self-driving) that have rarely played out the way he said they would. Expectations of some exaggerations and delays are likely already priced into Archer Aviation's stock. Focus on the fundamentals Instead of getting caught up in news stories and short-seller allegations, investors should focus on Archer Aviation's financial reports. This data should give investors the best indications of how long the company can sustain its operations while it waits for factors outside its control, such as regulatory approvals. So far, the situation is complicated. In the first quarter, its operating losses stood at $144 million, compared to $142 million in the prior-year period. This was mainly due to research and development outflows, as it spent more to bring the Midnight aircraft closer to commercialization. However, with around $1 billion in cash and equivalents on its balance sheet, Archer Aviation could sustain that rate of cash burn for about seven more quarters before it would need to seek outside sources of capital. The company is also working on expanding its manufacturing capabilities through a partnership with multinational automaker Stellantis. The companies are teaming up to build a manufacturing facility in Covington, Georgia, that will eventually be capable of producing up to 650 aircraft annually, with Stellantis contributing expertise and capital to the project. Archer Aviation expects to be able to produce two Midnight aircraft per month by the end of 2025. What will the next three years have in store? Like many speculative companies, Archer Aviation presents a hugely optimistic vision for its future. While the company is still awaiting final approvals from the Federal Aviation Administration (FAA) in the U.S., in international markets, it seems to be moving much faster. Early "launch edition" customers for its eVTOLs include Ethiopian Airlines and Abu Dhabi Aviation, which plans to take delivery of Midnight aircraft later this year. Over the next three years, Archer's revenue growth could accelerate dramatically as it secures more clients and ramps up production. But while this is exciting news for investors, it is unclear if these customers plan to merely test and experiment with eVTOLS or incorporate them into large-scale revenue-generating operations. Furthermore, investors shouldn't be surprised if there are delays and disappointments associated with the aircraft's commercialization, especially considering the allegations made in Culper Research's report. Archer Aviation remains a high-risk, high-potential-reward bet and it's not clear where it will be in three years. Should you invest $1,000 in Archer Aviation right now? Before you buy stock in Archer Aviation, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Archer Aviation wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $669,517!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $868,615!* Now, it's worth noting Stock Advisor 's total average return is792% — a market-crushing outperformance compared to173%for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of June 2, 2025
Yahoo
3 days ago
- Business
- Yahoo
This Company Signed an AI Deal With Palantir. Could It Be the Next Big Growth Stock?
Palantir in March announced an artificial intelligence (AI) partnership with Archer Aviation. Archer isn't generating revenue, but it has big plans for growth in the air taxi industry. The company hopes to scale its operations significantly by the end of the decade. 10 stocks we like better than Archer Aviation › Palantir Technologies (NASDAQ: PLTR) has been one of the top artificial intelligence (AI) stocks to own in recent years. And when it partners with a business, that can be a great sign for an emerging company. In March, Palantir announced a deal to work with Archer Aviation (NYSE: ACHR), which could help it scale its manufacturing capabilities, and position it for long-term growth ahead. With Palantir working with Archer, could the aviation company become the next big growth stock to invest in? Archer is in the business of developing electric vertical takeoff and landing (eVTOL) aircraft that can transport people and possibly solve traffic headaches in major cities like New York and Los Angeles. It's in the early stages of producing its Midnight aircraft, and by the end of this year, its goal is to be able to manufacture at least two per month. Leveraging Palantir's AI tools to help improve its processes can help the company hit its goals. By 2030, Archer hopes to be making 650 aircraft per year. The company has been named the official air taxi provider of the Olympic Games in Los Angeles in 2028. A strong showing there could legitimize Archer's business model to a much wider range of consumers, and investors. The key will be producing enough eVTOLs (the Midnight can transport just four passengers) by then and having them ready to go for the Games. But even before that, and as early as this summer, the company expects to deliver a Midnight aircraft (piloted) to the United Arab Emirates. Meeting that goal would be another good sign of progress for investors. A clear risk with Archer's stock at this early stage is that it isn't generating any revenue yet, and its losses are piling up. During the first three months of the year, the company incurred an operating loss of $144 million, versus $142.2 million in the prior-year period. The danger is that as the company scales operations and starts producing aircraft at a fast rate, its expenses could rise quickly. The good news is that the company is well funded with more than $1 billion in cash on its books; It used up $94.6 million over the course of its day-to-day operating activities in the first three months of the year. For now, there appears to be sufficient runway for the business to grow, but I'll be curious to see what its operating expenses and cash burn look like when production really ramps up, and what its margins prove to be on its aircraft. In the past 12 months, shares of Archer have soared 200%, pushing its market cap up to over $5 billion. This is for a business that isn't generating revenue yet, and which is in the early stages of production. At this kind of valuation, investors are taking a big leap of faith on the business and that it will be able to scale effectively and efficiently, which is by no means a sure thing. Investors also shouldn't read too much into its partnership with Palantir, as that may not necessarily result in big gains or cost savings for Archer. While there is a significant market opportunity for Archer in the long run in the air taxi industry, a lot depends on its deployment and production, and the effectiveness of its aircraft. For now, I'd suggest waiting on the sidelines to see how things play out, as there's still considerable uncertainty and risk around the business. At such a high valuation, there isn't any margin of safety for investors. Before you buy stock in Archer Aviation, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Archer Aviation wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $674,395!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $858,011!* Now, it's worth noting Stock Advisor's total average return is 997% — a market-crushing outperformance compared to 172% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 2, 2025 David Jagielski has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Palantir Technologies. The Motley Fool has a disclosure policy. This Company Signed an AI Deal With Palantir. Could It Be the Next Big Growth Stock? was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
03-06-2025
- Business
- Bloomberg
Joby, Saudi Group Eye Air Taxi Deal
Joby is looking toward a possible expansion throughout the Middle East. The California-based company is working toward an agreement to sell as many as 200 of its air taxis through Abdul Latif Jameel, a major Saudi Arabian investor. In an interview for Wall Street Week, CEO JoeBen Bevirt says, 'We think that, over time, the market in Saudi is substantially larger than that. But this is the first chunk.' (Source: Bloomberg)
CNA
03-06-2025
- Business
- CNA
Beta Technologies conducts first all-electric aircraft landing
Beta Technologies became the first U.S. company to land an all-electric aircraft at an airport in the New York-New Jersey region, the company and port authorities said in Tuesday. The flight to New York's John F. Kennedy International Airport flew 45 minutes with a pilot and four people, they said in a statement. Transportation companies, including airlines, are looking to develop services using electric battery-powered aircraft that can take off and land vertically to ferry travelers for short city trips, allowing them to beat traffic. In October, the Federal Aviation Administration finalized comprehensive training and pilot certification rules for flying air taxis, calling it "the final piece in the puzzle for safely introducing these aircraft in the near term." In the same month, Beta raised $318 million in equity capital to fund production, certification, and commercialization of electric aircraft, bringing its total raised value to more than $1 billion. The Vermont-based company was founded in 2017. "After years of rigorous safety testing in all types of environments, we're proud to stand here with the Port Authority and the city of New York to demonstrate exactly how this aircraft can serve cities by easing congestion, reducing emissions, and increasing accessibility," Kyle Clark, CEO and founder of the privately held company, said in the statement.
