Archer Aviation plans to build 250 air taxis in 2025

Archer Aviation said it aims to make about 250 battery-electric air taxis in 2025 and scale up production in the following years, after setting a goal of getting its aircraft certified by the end of 2024. "In our first year, we will build 250 aircraft, our second year will build 500 aircraft, our third year will build 650 aircraft and then we scale it up to around 2000 aircraft per year," CEO Adam Goldstein said. Archer aims to certify its pilot-plus-four-passenger aircraft, 'Midnight', by end-2024, though the US FAA is still in the process of drawing up certification rules for these futuristic aircraft. "In terms of aircraft production, we have estimated in our Archer model around 20 units in 2025," JPM analyst Bill Peterson said. "We are not negative on the space, but think it will take a little longer to play out with the ramp not as steep as these companies had projected in their SPAC decks from over a year ago," he added. Archer shares haven fallen 54% so far this year. Once certified, the California-based start-up's electric Vertical Take-Off and Landing (eVTOL) aircraft will compete in a crowded market with dozens of other developers such as Joby Aviation and Vertical Aerospace Ltd vying to revamp urban transportation.<br/>