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Archer Completes Construction of High-Volume Manufacturing Facility

^{Published on 2024-12-19 20:02:40 - Yahoo Finance}
 

• Archer Aviation Inc. (NYSE : ACHR) announced today that earlier this week it received the certificate of occupancy for its high-volume manufacturing facility, ARC, which is connected to the Covington Municipal Airport in Georgia.

Archer Aviation Inc. has completed the construction of its high-volume manufacturing facility in Covington, Georgia, marking a significant step towards producing its electric vertical takeoff and landing (eVTOL) aircraft, known as Midnight. This facility, which spans 350,000 square feet, is designed to support the production of up to 650 aircraft annually, with potential expansion to increase capacity to 2,300 aircraft per year. The completion of this facility is part of Archer's broader strategy to scale up production and meet its goal of launching an air taxi service by 2025. The company has also secured partnerships with major corporations like United Airlines and Stellantis, the latter of which is aiding in the manufacturing process. This development not only signifies Archer's progress in the eVTOL industry but also underscores the growing interest and investment in urban air mobility solutions.

Read the Full YAHOO!Finance Article at:
[ https://finance.yahoo.com/news/archer-completes-construction-high-volume-133000102.html ]

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