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The additional funds further support Archer’s liquidity position of approximately $2 billion in anticipation of Midnight’s commercialization.
Archer seeks to integrate air taxi support across LA through transporting LA28’s VIPs, fans and stakeholders to key venues.
Flight operations tested the composites-intensive aircraft’s VTOL and CTOL capabilities, important for its civil and defense operations.
Archer looks to enable passengers to travel from Manhattan to nearby airports in just 5-15 minutes via the Midnight eVTOL platform.
A surge in defense spending, partnerships in hydrogen propulsion and new combat aircraft agreements, many backed by composites industry leaders, culminated the 55th Paris Air Show.
Despite persistent supply chain issues, markets were set for healthy growth before Trump policies and tariffs, yet long-term trends favor composites in new platforms. Meanwhile, advanced air mobility shakes out and moves forward.
Since the launch of Archer Defense, the eVTOL company looks to develop its capabilities in composites and batteries, as well as ongoing commercialization of its Midnight platform.
Tooling load-in is already underway ahead of the planned start of initial production beginning early 2025, while Stellantis and Archer work to finalize the exclusive contract agreement.
Japan Airlines’ and Sumitomo’s joint venture company intends to purchase up to 100 Midnight aircraft to certify and commercialize AAM services across Japan.
The companies’ first product from this partnership, aided by an additional $430 million raised by Archer, is planned to be a hybrid-propulsion VTOL that will target a potential program of record from the U.S. DOD.
