Archer Aviation Inc. (NYSE: With the rise of Consumerist trends, ACHR) is rapidly gaining traction in the electric vertical takeoff and landing (eVTOL) sector and its stock has increased by 184% over the past month, inching close to its 52-week high of $9.84. This remarkable rebound, much bigger than the 15% rise of the S&P 500 index for the same period, is driven by key breakthroughs and partnerships.
One of the biggest engines of this growth is Archer’s recent $500 million deal with Soracle, a partnership between Japan Airlines and Sumitomo Corporation. The deal includes the supply of up to 100 Midnight eVTOL aircraft to enter Archer′s presence in the global urban air mobility market.
With the automobile industry powerhouse setting aside $55 million to accelerate the production of eVTOL, STLA) also started to boom.
Archer made a step in a large direction as it completed transition flights for its Midnight aircraft, achieving speeds over 100 miles per hour. This achievement is a major step towards obtaining the major certifications of its eVTOL.
These developments position Archer to be a leader in the emerging eVTOL industry as it keeps investors confident and reinforces its leadership in markets.
However, since new technology has been embraced successfully with a range of devices and has collaborated with strategic partners, Archer is well set to change the face of urban air mobility and maintain a positive trend in competition in the highly competitive market of eVTOL.
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