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AIR lands $23M to bring its eVTOLs to the US

The combined forces of escalating geopolitical tensions and rising defense budgets are spurring many electric vertical takeoff and landing (eVTOL) makers to take a two-pronged approach to building their aircraft: crewed vehicles for personal or commercial taxi use, and uncrewed vehicles meant for logistics and defense purposes. AIR, an Israel-based startup developing eVTOLs, thought it prudent to adopt a similar approach from the get-go, designing both its uncrewed and piloted aircraft with the

Archer drops about 15% on $850 million share sale following Trump air taxi pilot program

Midnight, an all-electric aircraft from company Archer Aviation, is seen at the Salinas Municipal Airport in Salinas, California, on Aug. 2, 2023. Archer Aviation 's stock dropped about 15% on Friday after the air taxi maker said it sold $850 million worth of shares. The electric vertical takeoff and landing vehicle, or eVTOL, company said Thursday it plans to use the financing to support new infrastructure and the rollout of an artificial intelligence-based aviation software platform. The mon

Archer drops 15% on $850 million share sale following Trump air taxi pilot program

Midnight, an all-electric aircraft from company Archer Aviation, is seen at the Salinas Municipal Airport in Salinas, California, on Aug. 2, 2023. Archer Aviation 's stock dropped about 15% on Friday after the air taxi maker said it sold $850 million worth of shares. The electric vertical takeoff and landing vehicle, or eVTOL, company said Thursday it plans to use the financing to support new infrastructure and the rollout of an artificial intelligence-based aviation software platform. The mon