Is Archer Aviation Ready for Takeoff?
Innovations in transportation don't come often, so when Aviation (NYSE: ACHR) states that its mission is "to unlock the skies, freeing everyone to reimagine how they move and spend time," investors want to know if this is a pie in the sky notion or if Archer Aviation is for real.
But it clearly appears to be the latter. In its plight to disrupt urban transportation, Archer Aviation has hit the target in a variety of ways, suggesting that -- while it's not exactly open for business yet -- the company is on the right path.
Founded in 2020, Archer has made great strides over the past few years toward its goal of transporting passengers in electric vertical take off and landing (eVTOL) aircraft. In 2021, Archer inked a manufacturing agreement with automaker Stellantis. The two companies are developing a manufacturing facility in Georgia this year, which has an annual production capacity of 650 aircraft and is expected to commence production in 2025.
Source Fool.com
