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Archer's stock dropped after Tesla's announcement excluded eVTOLs, but the company secured a $500 million deal for 100 air taxis in Japan.
Archer Aviation’s stock fell 8.6% after Tesla’s October 7 announcement of cheaper Model 3 and Model Y vehicles failed to include any mention of electric vertical takeoff and landing (eVTOL) aircraft, ending speculation of a partnership.
The rumor had briefly sent Archer’s shares up over 30% following a Tesla teaser video with a turbine-like image.
Despite the setback, Archer secured a $500 million order from Soracle Corporation for 100 Midnight eVTOL aircraft to launch air taxi services in Tokyo, Osaka, and Nagoya.
The company also maintains partnerships with United Airlines and Los Angeles for urban air mobility, including the 2028 Olympics.
Archer remains on track for FAA type certification, a critical milestone before passenger service begins later this decade.
Las acciones de Archer cayeron después de que el anuncio de Tesla excluyera los eVTOL, pero la compañía aseguró un acuerdo de $500 millones para 100 taxis aéreos en Japón.