ACHR - Archer Aviation inks $142M in contracts with DoD
2023-07-31 06:08:40 ET
- Archer Aviation ( NYSE: ACHR ) has significantly expanded its partnership with the DoD by obtaining new contracts with the U.S. Air Force that have a combined value of up to $142 million.
- The new contracts signal the U.S. military's recognition of the transformative potential Archer’s innovative eVTOL aircraft brings to its country’s Armed Forces.
- This new execution phase of the partnership includes the delivery of up to six of Archer’s Midnight aircraft to the Air Force, the sharing of additional flight test data and certification-related test reports, pilot training, and the development of maintenance and repair operations.
- These contracts will enable Archer to develop and deliver cutting-edge capabilities that will bolster the national defense of the United States of America.
- The other military branches have the opportunity to leverage these contracts as a platform for additional projects, which could increase the total value of Archer’s DoD partnership.
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Archer Aviation inks $142M in contracts with DoD