The Federal Aviation Administration said Friday it's launching a pilot program to speed up the rollout of air taxis.
Archer Aviation and Joby Aviation , major players in the electric vertical takeoff and landing, or eVTOL, space, said they are participating in the program. Shares of each were higher on Friday.
The program will establish at least five projects through public-private partnerships with state and local governments to promote safe usage of electric vertical takeoff and landing aircraft.
"The next great technological revolution in aviation is here," said U.S. Transportation Secretary Sean Duffy in a release. "The United States will lead the way, and doing so will cement America's status as a global leader in transportation innovation."
Archer said supervised trials could begin in the U.S. as soon as next year, ahead of FAA certification. Joby is set to begin FAA flight testing early next year.