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ARCHER AVIATION

https://j2t.com/solutions/newsview/592220/adviser/

"One disruptive business that Cathie Wood is charged up about is Archer Aviation, an electric air taxi company. In fact, Archer Aviation finds itself in several Ark Invest exchange-traded funds (ETFs): the ARK Innovation ETF, ARK Space Exploration & Innovation ETF, and ARK Autonomous Technology & Robotics ETF.

Forget about grabbing a land-based taxi to the airport, Archer Aviation plans to provide rides on its electric vertical take off and landing (eVTOL) aircraft to shuttle passengers to the airport. While this may seem like a convenience for those who are wealthy, Ark Invest research foresees the price tag for an eVTOL ride dropping significantly as the technology scales. Over the next decade, for example, Ark Invest imagines the cost of a ride from Manhattan to JFK Airport falling to about $70 per person when shared among three passengers.

Archer Aviation aspires to begin commercial operations in 2025, and it has made great progress on its way to meeting this target. Last week, the Federal Aviation Administration certified that Archer Aviation has met all safety requirements necessary to begin flight test operations. In addition, the company has gained notice from aviation leaders like the U.S. Air Force and United Airlines, which has signed an agreement with Archer Aviation for the purchase of aircraft totaling up to $1 billion, plus an option for an additional $500 million."