Air Taxi Company Plans to Build 650 Vehicles a Year

Agreements to build a high-volume manufacturing facility for eVTOL (electric vertical takeoff and landing) vehicles have been signed.

Financing to develop the Archer Aviation facility being built in Covington, Georgia, was arranged with Synovus Bank and Evans General Contractors

Construction has already started on the 350,000-square-foot facility supporting production of up to 650 aircraft annually, believed to be the largest eVTOL aircraft manufacturing facility by volume.

Another flying taxi company, Joby Aviation, recently selected Dayton, Ohio, for its large-scale aircraft production facility to deliver up to 500 electric aerial vehicles (EAV) a year.

That site is large enough to build up to 2 million square feet of manufacturing space.

The Archer announcement secures at least $65 million in financing, a majority of the cost of construction for the first phase of the manufacturing facility, according to the company.

Archer has partnered with Honeywell and Safran for a majority of its Midnight aircraft components.

The first phase of the Archer facility is scheduled to be completed in 2024, with the planned flying vehicle entry into service in 2025.

The next phase would include the capability to expand to 900,000 square feet to support the production of more than 2,000 aircraft per year.

Archer recently received the first $1 million as part of a $142 million deal with the U.S. Air Force, which is working with Archer to assess the eVTOL vehicle market and technologies for Department of Defense purposes.

Archer recently received a new round of funding of $215 million, bringing the total investment in its EAV development to $1.1 billion.

That funding came from investors including Boeing, United Airlines, Stellantis and Ark Investment Management.

The Archer EAV is designed to carry 1,000 pounds with a low noise profile.

Archer also is working with United Airlines and last year received a $10 million pre-delivery payment from United for 100 aircraft, according to the company.

Like what you've read? For more stories like this on flying cars and emerging technologies, sign up for our free daily email newsletter to stay updated!