Archer Aviation Inc (ACHR)

[Theo]

The aviation industry is looking for its own Tesla

"United Airlines (UAL) has a $1 billion agreement with Archer Aviation (ACHR) signed several years ago to purchase up to 200 of the startup’s vertical takeoff and landing vehicles, or eVTOLs. Prior to the United deal, the California-based company partnered with European carmaker Stellantis (STLA).

On an earnings call earlier this year, Archer co-founder Adam Goldstein explained why the company took an investment from the automaker: "When I founded Archer, I knew from watching the EV industry that developing the capability to manufacture our aircraft at high volumes was perhaps the No. 1 enabler of our future success alongside the design and certification of the aircraft," he said."