United Airlines Invested Over $1 Billion In Air Taxis

We could see the zero-emissions aircraft servicing airports as soon as 2024.

By Rachel Cormack 11/02/2021

United Airlines believes that soon we’ll all be taking air taxis to the airport—and it just ponied up big bucks to get in on the action. The airline has just announced that it will invest more than $1 billion in Archer Aviation, a start-up developing electric vertical takeoff and landing aircraft.

The startup says its eVTOLs, which are being positioned as commuter air taxis, will be able to shuttle passengers some 100km on a single charge and hit speeds of up to 241km/h. While still in the prototype stage, the full-scale aircraft is scheduled to be unveiled later this year, with mass production slated for 2023. According to Archer, jet setters can expect to see this zero-emissions aircraft servicing airports in United’s major hubs by 2024.

Archer eVTOL

The electric aircraft will shuttle passengers up to 100km at speeds near 240km/h. Jeff Ludes/Archer Aviation

“Archer’s eVTOL design, manufacturing model and engineering expertise has the clear potential to change how people commute within major metropolitan cities all over the world,” United CEO Scott Kirby said in a statement.

Indeed, the airline estimates that flying one of Archer’s eVTOLs between Hollywood and Los Angeles International Airport (LAX) could reduce CO2 emissions by up to 50 per cent per passenger. Coincidentally, Los Angeles is one of the first cities Archer plans to launch its fleet and one of United’s largest hubs.

Archer eVTOL

The aircraft could start servicing airports in United’s major hubs by 2024. Jeff Ludes/Archer Aviation

United isn’t the only party getting in on the Archer action, either. Separately, the startup announced that it reached an agreement to merge with special purpose acquisition company Atlas Crest Investment Corp. to become a publicly listed company. The combined company, soon to be listed on the New York Stock Exchange under “ACHR,” will have an equity valuation of US$3.8 billion. Archer also said it expected to receive US$1.1 billion of gross proceeds to fund future growth, including US$600 million in private investment in public equity (PIPE) from investors such as Stellantis and United. Fiat Chrysler also recently announced a partnership with Archer to develop flying cars.

It could be a prescient move. Morgan Stanley predicts that the market for eVTOLs could reach $1.5 trillion in the next 20 years. If that prognostication bears out, early investors stand to be rewarded handsomely.

ADVERTISE WITH US

Subscribe to the Newsletter

Stay Connected

You may also like.

World’s First Hydrogen-Powered Helicopter Nears Landing

The zero-emissions helicopters could be in the air by 2025.

By Michael Verdon

01/09/2021

Why The Future Of Space Tourism Has Already Arrived

Multiple companies are already competing to propel you into the heavens.

By Michael Verdon

30/08/2021

This Hybrid Boat-Plane Flies Over The Water

The EP-15 uses ground effect to fly above the surface.

By J. George Gorant

27/08/2021

Forget Supersonic, Hypersonic Jets Are The Future

The Hermeus jet has a projected top speed of Mach 5.5—or 6790km/h—making it the fastest reusable jet on the planet.

By J. George Gorant

20/08/2021

Private Jet Prices Are On The Ascent

With more first-time buyers entering the market, demand is high and supply is at historic lows.

By Michael Verdon

18/08/2021

Buy the Magazine

Subscribe to Robb Report today!

Subscribe today

Stay Connected