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Two rivals in the race to mass-produce an all-electric aircraft said on Thursday that they had agreed to collaborate and settled a trade-secrets lawsuit that one rival, Wisk Aero, had filed against the other, Archer Aviation. Archer said it, in turn, would exclusively use Wisk’s self-flying technology in future aircraft. Both Wisk and Archer are developing small electric aircraft that can take off vertically, like helicopters, but fly like airplanes. Each is being designed to carry four passengers short distances, but Archer’s will initially have a pilot while Wisk is working toward autonomous flight. Boeing said in a statement that its investment in Archer would “support the potential integration of Wisk’s autonomous technology in future variants of Archer’s aircraft, pursuant to Wisk’s exclusive right to be their autonomy provider.”
Persons: Archer, Archer’s Organizations: Wisk, Archer Aviation, Boeing Locations: Archer
Cramer's Lightning Round: Stay away from JetBlue
  + stars: | 2023-08-07 | by ( Julie Coleman | ) www.cnbc.com   time to read: +1 min
Stock Chart Icon Stock chart icon Vici Properties' year-to-date stock performance. Stock Chart Icon Stock chart icon Draftkings' year-to-date stock performance. Draftkings : "[Buy, buy, buy!] Stock Chart Icon Stock chart icon JetBlue's year-to-date stock portfolio. Stock Chart Icon Stock chart icon Cava's year-to-date stock portfolio.
Persons: Draftkings, They've, they've, Electric's, Archer Aviation's, Cava Organizations: New York Community, New York Community Bancorp, General, JetBlue
Archer shares jump on air taxi deal with US Air Force
  + stars: | 2023-07-31 | by ( ) www.reuters.com   time to read: +1 min
July 31 (Reuters) - Archer Aviation (ACHR.N) shares jumped as much as 33% on Monday after the air taxi maker entered into a deal to provide up to six of its "Midnight" aircraft to the U.S. Air Force. The deal, worth up to $142 million, includes delivery of vertical takeoff and landing (eVTOL) aircraft, pilot training, development of maintenance and repair operations, and share data such as additional flight test and certification-related test reports. The California-based company in May completed the final assembly of its first "Midnight" (eVTOL) aircraft. It can carry four passengers and a pilot and has a range of up to 100 miles (160.9 km). Last month, Joby Aviation (JOBY.N), which also has a deal with the U.S. Air Force, said it would deliver the first two electric aircraft in March 2024 to the Edwards Air Force Base after completing their initial testing.
Persons: Archer, Billy Nolen, Archer's, Pratyush Thakur, Maju Samuel Organizations: Archer Aviation, U.S . Air Force, Joby Aviation, Edwards Air Force Base, Federal Aviation Administration, FAA, Thomson Locations: California, Bengaluru
Electric planemaker Archer Aviation is one of the most promising eVTOL startups in the US. Overseeing safety is the former acting head of the Federal Aviation Administration, Billy Nolen. His appointment comes ahead of Archer's upcoming Midnight eVTOL, which United plans to fly. One of the highest authorities on aircraft safety in the US just placed his bets on startup electric planemaker Archer Aviation, representing how close the world could be to this new era of air travel. In June, former acting head of the Federal Aviation Administration, Billy Nolen, stepped away from the regulator to become Archer's chief safety officer.
Persons: Billy Nolen, Archer, Nolen Organizations: Archer Aviation, Federal Aviation Administration, Aviation, FAA, Paris Air Show Locations: Los Angeles, Paris
Electric planemaker Archer Aviation is one of the most promising eVTOL startups in the US. Overseeing safety is the former acting head of the Federal Aviation Administration, Billy Nolen. His appointment comes ahead of Archer's upcoming Midnight eVTOL, which United plans to fly. In June, former acting head of the Federal Aviation Administration, Billy Nolen, stepped away from the regulator to become Archer's chief safety officer. Archer has already produced a full-sized mockup of its upcoming eVTOL known as Midnight, which Nolen said is still on track to start commercial flights in early 2025 despite some regulatory hiccups.
Persons: Billy Nolen, Archer, Nolen Organizations: Archer Aviation, Federal Aviation Administration, Aviation, FAA, Paris Air Show Locations: Los Angeles, Paris
JPMorgan is turning more cautious on shares of Joby Aviation in the wake of its recent stock outperformance. Analyst Bill Peterson downgraded the electric aircraft stock to underweight from neutral. For the year, Joby shares are up 200%. Along with the downgrade, Peterson lifted his price target to $6 from $5 a share, reflecting 40% downside from Monday's close. He views Blade Air Mobility as a potentially "safer way" to currently play the advanced air mobility trend.
Persons: Bill Peterson, Peterson, — CNBC's Michael Bloom Organizations: JPMorgan, Joby Aviation, Aviation, Mobility Locations: OW
June 28 (Reuters) - Joby Aviation (JOBY.N) said on Wednesday the U.S. aviation regulator has given the nod for flight testing of its air taxi, as it edges towards securing approval to begin commercial operations. The California-based company also said Toyota North America's CEO, Tetsuo Ogawa, will join its board on Saturday. Joby said the Federal Aviation Administration (FAA) had granted a Special Airworthiness Certificate which allows flight testing of its first production prototype without passengers. The aircraft will be delivered to Edwards Air Force Base after completing initial testing, the company said. The delivery is made under Joby's $131 million contract with the U.S. Air Force.
Persons: Tetsuo Ogawa, Joby, Aishwarya Nair, Krishna CHandra Organizations: Joby Aviation, U.S, Toyota North, Toyota, Archer Aviation, Vertical Aerospace, Federal Aviation Administration, FAA, Edwards Air Force Base, U.S . Air Force, Thomson Locations: California, Bengaluru
[1/2] Joby Aviation founder JoeBen Bevirt poses next to a Joby Aviation Air Taxi ahead of their listing at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., August 11, 2021. REUTERS/Andrew Kelly/File PhotoJune 28 (Reuters) - Joby Aviation (JOBY.N) said on Wednesday the U.S. aviation regulator has given the nod for flight testing of its electric air taxi, taking it a step closer to securing approvals for commercial operations. Joby said the Federal Aviation Administration (FAA) had granted a Special Airworthiness Certificate, which allows flight testing of its first production prototype without passengers. Rival Archer received the green signal for flight testing in 2021. Joby's aircraft will be delivered to Edwards Air Force Base after completing initial testing, the company said.
Persons: JoeBen Bevirt, Andrew Kelly, Tetsuo Ogawa, Joby, Archer, Germany's, Aishwarya Nair, Krishna Chandra Eluri Organizations: Joby Aviation, Joby Aviation Air Taxi, New York Stock Exchange, REUTERS, U.S, Toyota North, Toyota, Archer Aviation, Vertical Aerospace, Federal Aviation Administration, FAA, Aerospace, Edwards Air Force Base, U.S . Air Force, Thomson Locations: Manhattan , New York City, U.S, California, Joby's, Bengaluru
WASHINGTON, June 13 (Reuters) - Air taxi maker Archer Aviation (ACHR.N) said on Tuesday former Federal Aviation Administration (FAA) acting administrator Billy Nolen had joined the company as chief safety officer. California-based Archer said in May it had completed final assembly of its first "Midnight" electric vertical takeoff and landing (eVTOL) aircraft. In March, Denver International Airport CEO Phil Washington withdrew his nomination to serve as FAA administrator after Republican criticism. Last week, the U.S. Transportation Department announced Deputy Secretary Polly Trottenberg was taking over as acting head of the FAA. She is also retaining her role as USDOT but focused on FAA, a department spokesperson said.
Persons: Billy Nolen, Archer, Billy, ” Adam Goldstein, Nolen, Phil Washington, Polly Trottenberg, Joe Biden, Katie Thomson, Bradley Mims, David Shepardson, Aishwarya Nair, Anil D'Silva, Emelia Organizations: Air, Archer Aviation, Aviation Administration, FAA, Reuters, Denver International, U.S . Transportation Department, Thomson Locations: California, Washington, Bengaluru
On Thursday, Braze posted a non-GAAP loss of 13 cents on revenue of $101.8 million. Analysts called for a loss of 18 cents per share and revenue of $98.8 million, according to FactSet. Joby Aviation , Archer Aviation — On Friday, Canaccord Genuity initiated coverage of Joby Aviation and Archer Aviation with a buy rating, saying the urban air mobility firms are positioned for the long term. Sonoma Pharmaceuticals on Thursday announced an intraoperative pulse lavage irrigation treatment that could replace IV bags for some surgical procedures. Adobe — Shares popped 3.4% after Wells Fargo upgraded the software stock to an overweight rating, saying AI should drive continued upside for the stock.
Persons: Braze, Goldman Sachs, Canaccord Genuity, Archer, Tesla, Motors — Tesla, Mary Barra, DocuSign, Allan C, Thygesen, Refinitiv, Wells, — CNBC's Michelle Fox, Alex Harring, Samantha Subin Organizations: GMC, General Motors, Joby Aviation, Archer Aviation, Sonoma Pharmaceuticals —, Sonoma Pharmaceuticals, Motors, GM, Adobe, , Citi Locations: Austin , Texas, America
Canaccord initiates Joby and Archer as buy
  + stars: | 2023-06-09 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCanaccord initiates Joby and Archer as buyAustin Moeller, director of equity research at Canaccord Genuity, joins 'The Exchange' to explain why his firm initiated coverage of Joby Aviation and Archer Aviation with a buy rating.
Persons: Archer, Austin Moeller Organizations: Joby Aviation, Archer Aviation
US proposes training, pilot certification rules for air taxis
  + stars: | 2023-06-07 | by ( ) www.reuters.com   time to read: +2 min
[1/2] A full-size mock-up of an electrically powered Lilium Jet air taxi is seen in a presentation bay inside a hangar at the German company’s headquarters in Oberpfaffenhofen airport outside Munich, Germany, December 2, 2022. REUTERS/Tim HepherWASHINGTON, June 7 (Reuters) - The U.S. aviation regulator said on Wednesday it was proposing comprehensive training and pilot certification rules for flying taxis, electric vertical takeoff and landing aircraft (eVTOL), which have been touted as the future of urban air mobility. Low-altitude urban aircraft have drawn intense global interest, with numerous eVTOL companies going public. In May, the FAA issued an "updated blueprint" for airspace and other changes to accommodate future air taxis. Last year, the FAA issued the airworthiness criteria that air taxi startup Joby Aviation (JOBY.N) must meet for its Model JAS4-1 eVTOL aircraft and Archer Aviation (ACHR.N) for its air taxi to be certified for use.
Persons: Tim Hepher WASHINGTON, David Shepardson, David Gregorio Our Organizations: Jet, REUTERS, U.S, Federal Aviation Administration, FAA, International Civil Aviation Organization, Airlines, Joby Aviation, Archer Aviation, Delta Air Lines, Thomson Locations: Oberpfaffenhofen, Munich, Germany, Joby, New York, Los Angeles
WASHINGTON, June 4 (Reuters) - Deputy U.S. Transportation Secretary Polly Trottenberg is expected to be named Federal Aviation Administration's (FAA) next interim leader, two sources told Reuters on Sunday. Acting FAA administrator Billy Nolen is expected to leave the agency on Friday, officials told Reuters last week. The National Transportation Safety Board is investigating six runway incursion events since January including some that could have been catastrophic. Reuters earlier reported that Nolen is expected to take a position with electric air taxi firm Archer Aviation (ACHR.N) after he leaves the FAA. The FAA, White House and Transportation Department did not respond to requests for comment.
Persons: Polly Trottenberg, Billy Nolen, Trottenberg, Nolen, Barack Obama, Charles Schumer, Phil Washington, David Shepardson, Kanjyik Ghosh, Diane Craft Organizations: U.S, Transportation, Federal Aviation, FAA, Sunday, Street Journal, Reuters, United, National Transportation Safety, Archer Aviation, New York City’s, U.S . Senate, Denver International, White House and Transportation Department, Thomson Locations: United States, U.S, New York, Washington, Bengaluru
United Airlines ordered $1 billion worth of Archer Aviation's electric air taxi known as "Midnight." A regulatory change could delay the launch, but Archer's CEO says commercial flights are still on track for 2025. The era of electric air taxis is near, but a regulatory change has created an obstacle for manufacturers. While the FAA has made progress, the lack of guidance has left air taxi companies in limbo as they do not know how the future laws could impact design and production — effectively delaying the launch of some eVTOLs, like Joby Aviation's air taxi that Delta Air Lines ordered in October. Insider spoke with Archer Aviation CEO Adam Goldstein to learn more about the status of eVTOL certification and the future of its "Midnight" air taxi.
Persons: Archer, , Adam Goldstein Organizations: United Airlines, Morning, Federal Aviation Administration, FAA, Delta Air Lines, Archer Aviation
Signage is seen on the Joby Aviation Air Taxi outside the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., August 11, 2021. REUTERS/Andrew Kelly/File Photo(Reuters) - British investment management firm Baillie Gifford will invest $180 million in electric aircraft maker Joby Aviation, they said on Wednesday. “It is important as long-term investors – even more so in a challenging environment – that we maintain our approach of backing transformational companies to build new growth industries,” a Baillie Gifford spokesperson said in a statement. The British investment firm are also investors in Elon Musk-led electric vehicle maker Tesla Inc and online retailer Amazon.com Inc. The investment is expected to close on May 5, Baillie Gifford and Joby said on Wednesday.
Killing off projects had become something of a tradition at Kittyhawk, the secretive flying-car startup launched by the Google cofounder Larry Page. Larry Page has used his Google money to found a series of flying car companies with one common goal: "to free the world of traffic." "When Bloomberg did their original exposé, that's when urban air mobility became a thing," a former Kittyhawk employee recalled. Everyone thought: If Larry Page is in this space, there must be something here." Interpreting "Larry-isms" or "learning to speak Larry" were essential skills for any Kittyhawk employee who wanted to retain their sanity.
…and fly up to 150 miles per hour across 100 miles. However, Archer said Midnight has been optimized to fly back-to-back flights of about 20 miles with a rapid 12-minute recharge time in between. The powertrain system in Archer's Midnight eVTOL, which allows for the rapid recharge time. Archer AviationSource: Archer Aviation
WASHINGTON, March 14 (Reuters) - Beta Technologies is pursuing Federal Aviation Administration (FAA) certification for a fixed-wing electric airplane after receiving orders from three customers, the company announced Tuesday. The privately-held, Vermont-based startup sees certification of the CX 300 – a conventional takeoff and landing version of its Alia 250 electric vertical takeoff and landing (eVTOL) aircraft - as a path to introduce an electric aircraft into U.S. airspace under existing regulations, Chief Executive Kyle Clark told Reuters. Bristow Group, a helicopter service provider that has previously ordered eVTOL aircraft from Beta, has placed an order for up to 50 CX 300 electric planes, Beta said. As the air transport industry works to lower carbon emissions, electric "air taxis" are seen as a potential gamechanger that would allow airlines and other companies to shuttle people and goods by air over short distances. If successful, Beta can reuse much of the data to certify its eVTOL Alia aircraft, which uses the same airframe, batteries and propulsion system, Clark said.
SAO PAULO, Feb 17 (Reuters) - Electric aircraft maker Eve Holding Inc (EVEX.N) is "on track" to meet its goal of starting commercial operations in 2026, an executive said on Friday, and getting its aircraft certificated is the most immediate target. Eve is confident about the "robust project," which is backed by Embraer's expertise, said Mauad, reiterating the goal of starting operations in 2026. BNDES later announced it would grant Eve an additional 490 million reais ($94.47 million). Mauad acknowledged a consolidation process could happen in the sector, but noted Eve was still particularly focused on working through its partnerships. ($1 = 5.1871 reais)Reporting by Gabriel Araujo; Editing by Anthony Esposito and Susan FentonOur Standards: The Thomson Reuters Trust Principles.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy United Airlines-backed Archer Aviation thinks eVTOLs could replace helicoptersWith an estimated 200 companies working on them, eVTOLs are taking the aviation industry by storm. And while vertical lift aircraft have existed for more than a century in the form of helicopters, eVTOLs could disrupt the $49 billion industry in certain segments due to their cheaper maintenance and operating costs. CNBC spoke with one startup, Archer Aviation, which is backed by United Airlines, about why these new aircraft could change how people travel.
Vertical lift aircraft have existed for more than a century in the form of helicopters. But the $49 billion industry faces a rapidly emerging threat. An estimated 200 companies are working to build electric vertical takeoff and landing vehicles (eVTOLs), a new type of small passenger aircraft designed for transportation within congested urban environments. "The electrification makes the aircraft safer. Safer aircraft also becomes less costly to maintain."
WASHINGTON, Jan 7 (Reuters) - The U.S. Federal Aviation Administration (FAA) said on Saturday it had agreed to partner with the Korea Office of Civil Aviation (KOCA) future Advanced Air Mobility aircraft development and operations. The two nations signed a declaration to collaborate and share information on advanced air mobility projects and work together to promote the safety oversight of advanced air mobility projects, the U.S. regulator said. The FAA has previously announced similar partnerships with Japan, the United Kingdom, Canada, Australia and New Zealand in the National Aviation Authorities Network to harmonize certification and integration plans for advanced air mobility projects. Last month, the FAA issued the airworthiness criteria that Archer Aviation (ACHR.N) will need to meet for its M001 air taxi to be certified for use. The FAA released the criteria for public comment of Archer's eVTOL after it made a similar announcement in November for Joby Aviation's (JOBY.N) Model JAS4-1 eVTOL.
Stellantis keeps feet on ground in air taxi punt
  + stars: | 2023-01-05 | by ( ) www.reuters.com   time to read: +2 min
LONDON, Jan 5 (Reuters Breakingviews) - Pumping $150 million into a loss-making flying-car company looks like an odd use of money for a carmaker. Stellantis (STLA.MI) Chief Executive Carlos Tavares has plenty to worry about already, like a looming recession and growing competition from Chinese giants. Yet the auto group’s deal with $513 million Archer Aviation (ACHR.N) looks like a savvy bet. It also locks in secure funding at a time when public and venture capital investors are increasingly jittery. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
Stellantis NV, the global auto-making company that owns Jeep, Ram and other well-known car brands, is getting into the aircraft-manufacturing business, striking a deal with Archer Aviation Inc. to help it build an electric flying taxi. The two companies said Wednesday that Stellantis would help Archer, a publicly traded air-mobility company established in 2018, to manufacture its first production aircraft at a factory the aviation company plans to build in Georgia.
Stellantis to build U.S. firm Archer's air taxi
  + stars: | 2023-01-04 | by ( Gilles Guillaume | ) www.reuters.com   time to read: +2 min
PARIS, Jan 4 (Reuters) - Car maker Stellantis (STLA.MI) will help build Archer Aviation's (ACHR.N) electric aircraft Midnight eVTOL and increase its stake in the U.S. company, the two firms said on Wednesday. Industrial firms and new startups are flocking to invest in air taxis, which can take off and land vertically to ferry travellers to airports or on short trips between cities, allowing them to beat traffic. It is designed for back-to-back short distance trips of around 20 miles, with a charging time of approximately 10 minutes in-between. "The goal is for Stellantis to mass produce Archer’s eVTOL aircraft as its exclusive contract manufacturer," the companies said in a joint statement. Stellantis will also increase its existing stake in Archer through stock purchases in the open market.
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