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Abu Dhabi's significant investment in Archer Aviation will lead to the manufacturing of air taxis in the UAE, creating jobs for thousands of people.
Archer Aviation, a US-based electric flying car manufacturer, has secured a significant investment from Abu Dhabi to produce air taxis in the UAE and establish its global headquarters in the Emirates.
This multi-hundred-million-dollar investment from the Abu Dhabi Investment Office (Adio) aims to facilitate the manufacturing of Archer's eVTOL (electric vertical takeoff and landing) aircraft, known as Midnight, in Abu Dhabi. The funds will also be used to construct vertiports in critical locations across Abu Dhabi and accelerate the launch of commercial air taxi operations in the UAE, which is planned for 2025.
Adam Goldstein, the CEO of Archer, stated that the company is in the advanced stages of the certification process with US regulators and is now focusing on the operational side. The plan is to start with a small network of vertiports and then expand over time to connect different emirates.
Archer's collaboration with ADIO includes vertiport construction operational support and in-country manufacturing of the Midnight aircraft. The agreement also involves the development of local workforce programs for Emirati talent and establishing Archer's international headquarters and Centre of Excellence in Abu Dhabi.
"This substantial agreement with Abu Dhabi is a pivotal moment for Archer's commercialization efforts across the Emirates, as it catalyzes the launch of our electric air taxi service in the UAE as soon as late 2025. The agreement underscores Abu Dhabi's strong commitment to Archer and conviction to become a global hub for urban air mobility," said Adam Goldstein.
Badr Al-Olama, director-general of Adio, expressed Abu Dhabi's commitment to accelerating the launch of electric air taxis globally. He stated, "We are excited to support Archer in establishing its international headquarters in Abu Dhabi and to develop a comprehensive investment framework that will accelerate its progress towards manufacturing and operating its Midnight aircraft in the UAE."
With support from its early investor and UAE's sovereign wealth fund Mubadala, Archer's partner operators Falcon Aviation and Air Chateau, and GAL-Ammroc will provide maintenance, repair, and overhaul support for Archer's eVTOL aircraft.
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