Archer Aviation Inc ACHR has entered into an agreement with the Abu Dhabi Investment Office (ADIO) to support the launch of its all-electric air taxi service across the UAE.
Archer will work towards making Abu Dhabi its first international launch partner, with plans to commence air taxi operations in Abu Dhabi in 2026.
ADIO will support Archer with incentives for establishing its first international headquarters and manufacturing facilities in the Smart and Autonomous Vehicle Industry (SAVI) Cluster in Abu Dhabi.
Archer, along with its global manufacturing partner Stellantis N.V. STLA and local partners in the UAE, will build its aircraft manufacturing capabilities and its Center of Excellence in Abu Dhabi.
The center of excellence will focus on developing and implementing next-generation aviation technologies.
"Together, we are positioned to be a driving force in making all-electric air taxis a reality in the skies of the UAE and beyond in the coming years," said Founder and CEO Adam Goldstein.
Archer is working with numerous industry partners across the UAE to support its plans to commercialize operations in the UAE.
Price Action: ACHR shares are trading higher by 2.45% at $5.24 on the last check Monday.
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