The Federal Aviation Administration approved eight pilot programs that will allow a handful of companies, including Archer Aviation, Beta Technologies, Joby Aviation, and Wisk to start widespread electric aircraft testing as early as this summer.
The three-year program, which will span 26 states, is designed to ensure U.S. companies lead the way in next-gen aircraft used for personal travel, regional transportation, cargo logistics, and emergency medicine, Department of Transportation Secretary Sean Duffy said in remarks Monday.
The pilot program, known as the Advanced Air Mobility and Electric Vertical Takeoff and Landing Integration Pilot Program, was announced last year through an executive order by President Donald Trump in an effort to speed up development of the futuristic aircraft.
Numerous electric vertical takeoff and landing (eVTOL) companies have emerged in recent years with promises of launching urban air taxis and other regional electric aircraft. However, getting those aircraft into commercial operation takes years and hundreds of millions of dollars. The FAA must certify any new aircraft, which is a multi-year process.
The pilot program will allow these companies to test their eVTOL aircraft even though they have not received full regulatory certification.
That kind of accelerated timeline could bolster the efforts, and share prices, of many eVTOL companies such as Archer, Beta, and Joby that have gone public in recent years.
Beta Technologies founder and CEO Kyle Clark said being selected for the program will allow the company to start aircraft operations one year earlier than anticipated. The company’s stock price popped nearly 12% Monday. Archer and Joby, which are also publicly traded, saw stock jumps as well.
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