After Unveiling Its Production Aircraft, Midnight, Last November Archer Nears Completion of Its First Build

Rhea-AI Summary

Archer Aviation (NYSE: ACHR) is making significant progress with its Midnight aircraft, nearing completion of its first build. All major aerostructures are assembled, and a significant portion of wiring and systems has been installed. Flight testing is scheduled to begin mid-2023, with initial conforming aircraft targeted for completion in Q4 2023, ahead of piloted flight tests in early 2024. Archer plans to manufacture at least six conforming Midnight aircraft for FAA certification tests. COO Tom Muniz highlighted this milestone as validation of their innovative strategy, aiming for mass manufacturing and certification.

Positive

• Nearing completion of first Midnight aircraft build.
• All major aerostructures are assembled.
• Significant progress with wiring and electronics installation.
• Scheduled initial flight testing in mid-2023.
• Targeting completion of conforming aircraft in Q4 2023.

Negative

• None.

Significant Milestone Towards Its Goal Of Manufacturing Conforming Midnight Aircraft In Q4 2023 And Beginning Piloted Flight Test Operations With Its Conforming Aircraft In Early 2024

• All major aerostructures (i.e., wing, tail, and fuselage) have been built and mated together
• A significant portion of the wiring, electronics, actuators and other systems have been installed
• Initial flight testing scheduled to begin with the first build of Midnight in mid-2023

SANTA CLARA, Calif.--(BUSINESS WIRE)--

Archer Aviation Inc. (NYSE: ACHR) today announced that it is nearing completion of the final assembly of its first Midnight, the production aircraft it unveiled last November. All major aerostructures (i.e., wing, tail, and fuselage) have been built and mated together and the company reported it has also installed a significant portion of the wiring, electronics, actuators and other systems. Archer is currently targeting to begin flight testing of this aircraft in mid-2023. This aircraft will be used to enable company testing in advance of “for credit” certification testing.

Archer's first build of Midnight aircraft. (Photo: Business Wire)

The company has also now begun component manufacturing for its conforming Midnight aircraft, which will be flown with a pilot. Archer intends to build at least six of these conforming Midnight aircraft to be used as part of its "for credit" testing with the FAA in support of Type Certification. The company is targeting completion of its initial conforming Midnight aircraft in Q4 2023. In turn, that conforming aircraft would then begin piloted flight test operations in early 2024. These conforming aircraft are set to be built at Archer’s San Jose, California manufacturing facility and integrated test lab, located strategically just around the corner from its headquarters.

“A lot goes on behind the scenes to advance the development of our aircraft as efficiently as we have. I couldn’t be more excited to share the news of Archer’s progress on Midnight,” said Tom Muniz, Archer’s COO. “This latest milestone is further validation of our strategic approach of using known building blocks to enable realistic innovation significantly de-risking our path to certification and mass manufacturing. The team and I are looking forward to moving this aircraft into flight testing soon and continuing on our path to flying our conforming aircraft in early 2024.”

About Archer

Archer is designing and developing electric vertical takeoff and landing aircraft for use in urban air mobility networks. Archer’s mission is to unlock the skies, freeing everyone to reimagine how they move and spend time. Archer's team is based in San Jose, CA. To learn more, visit www.archer.com.

Archer Forward-Looking Statements

This press release contains forward looking statements regarding our future business plans and expectations, including statements regarding our timelines for the development of our Midnight aircraft. These forward looking statements are only predictions and may differ materially from actual results due to a variety of factors. The risks and uncertainties that could cause actual results to differ from the results predicted are more fully detailed under the caption "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2021, our Quarterly Reports on Form 10-Q filed since then, and other documents filed by us from time to time with the SEC, available on the SEC website at www.sec.gov. In addition, please note that any forward looking statements contained herein are based on assumptions that we believe to be reasonable as of the date of this press release. We undertake no obligation to update these statements as a result of new information or future events.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230309005363/en/

For Media: Louise Bristow // lbristow@archer.com

For Investors investors@archer.com

Source: Archer Aviation

FAQ

What is the status of Archer Aviation's Midnight aircraft?

Archer Aviation is nearing completion of its first Midnight aircraft, with all major aerostructures built and a significant portion of systems installed.

When will Archer Aviation begin flight testing for its Midnight aircraft?

Initial flight testing for the Midnight aircraft is scheduled to begin in mid-2023.

What are the plans for the conforming Midnight aircraft?

Archer plans to manufacture at least six conforming Midnight aircraft, targeting completion in Q4 2023 and beginning piloted flight tests in early 2024.

What does Archer Aviation aim to achieve with the Midnight aircraft?

Archer aims to achieve FAA Type Certification for the Midnight aircraft through its testing.