Archer to Unveil Production Aircraft Midnight™ at its November 16th Open House Event

Rhea-AI Summary

Archer Aviation (NYSE: ACHR) has announced the unveiling of its first production eVTOL aircraft, Midnight, at an Open House event on November 16, 2022. The aircraft, which supports four passengers and a pilot, is designed for urban air mobility and boasts a payload capacity exceeding 1,000 pounds with a quick 10-minute charging turnaround. Following a successful Preliminary Design Review in early 2022, Archer aims for FAA certification and has secured a $10 million pre-delivery payment from United Airlines for 100 units, demonstrating market confidence.

Positive

• Successful completion of Midnight's Preliminary Design Review.
• United Airlines made a $10 million pre-delivery payment for 100 Midnight aircraft.
• Open House event will showcase test flights and technological advancements.

Negative

• None.

• Midnight was recently announced as Archer’s piloted-plus-four-passenger eVTOL aircraft, which it intends to sell to customers like United Airlines and utilize in its planned urban air mobility service
• The timing of the unveil of the company’s Midnight aircraft is ahead of the company’s planned 2023 schedule and comes on the heels of Midnight’s successful Preliminary Design Review earlier in 2022
• Attendees of the Open House will have the opportunity to view a test flight of the company’s full-scale technology demonstrator at Archer’s flight test facility
• The Open House event will present details on the company’s commercialization plans, progress towards certification and technical advancements on Archer’s proprietary powertrain.
• Content from the event will be posted on Archer’s website and social media channels after the event

 

SANTA CLARA, Calif.--(BUSINESS WIRE)-- Archer Aviation Inc. (NYSE: ACHR), today announced that they will be unveiling Midnight, the company’s first production eVTOL aircraft, at an Open House event on November 16, 2022. The event will provide further details on the aircraft’s specifications and capabilities, including its proprietary electric powertrain system, as well as the company’s progress towards FAA certification of the Midnight aircraft.

In August of this year Archer first announced Midnight, following the successful completion of the aircraft’s Preliminary Design Review (PDR). The PDR covered all aspects of the aircraft’s specifications and manufacturing requirements, necessary pre-conditions for determinations that the design is feasible for regulatory compliance and viable to bring to market. Midnight is expected to have a payload of 1,000+ pounds, which supports four passengers and a pilot, and a charging turnaround time of approximately 10 minutes for the company’s target flights, enabling Archer’s UAM network operating model.

In August 2022, United Airlines made a $10m pre-delivery payment for 100 of the Midnight aircraft, further signaling the carrier’s confidence in the aircraft’s development. In addition to announcements around Midnight’s technical capabilities, attendees of the Open House will have the opportunity to view a test flight of the company’s full-scale technology demonstrator at Archer’s flight test facility.

“From day one, Archer’s goal has been to build a commercially viable business that will revolutionize intra-city travel. We’ve made phenomenal progress in the development of our eVTOL aircraft technology and I am excited to share the aircraft that will deliver on that vision as part of our Open House event,” said Adam Goldstein, Archer’s CEO.

Partners participating in the event will include United Airlines, as well as global automotive manufacturer, Stellantis. Stellantis has been working with Archer since early in their eVTOL aircraft’s development, and are a key partner in Archer’s plans to achieve manufacturing at scale for its aircraft.

“Collaboration has always been a cornerstone of our mission,” said Tom Muniz, Archer’s Chief Operating Officer. “Delivering a safe, sustainable revolution in air travel will take our collective vision and expertise, and I can’t wait to stand alongside the Archer team next month to share how together we are bringing our long-term plans to life.”

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 Santa Clara, CA.

To learn more, visit www.archer.com.

Source: Archer
Text: ArcherIR

View source version on businesswire.com: https://www.businesswire.com/news/home/20221013005863/en/

For Media

Sam Swanson

sswanson@archer.com

For Investors

investors@archer.com

Source: Archer Aviation Inc.

FAQ

What is Midnight by Archer Aviation?

Midnight is Archer Aviation's first production eVTOL aircraft designed for urban air mobility, supporting four passengers and a pilot.

When will Archer Aviation unveil Midnight?

Archer Aviation will unveil Midnight at an Open House event on November 16, 2022.

What is the payload capacity of Midnight?

Midnight has a payload capacity exceeding 1,000 pounds.

How much did United Airlines invest in Midnight?

United Airlines made a $10 million pre-delivery payment for 100 Midnight aircraft.

What advancements will be presented during the Open House?

The Open House will showcase Midnight's technical specifications, capabilities, and a test flight of a full-scale demonstrator.