SEOUL - Archer Aviation Inc. and KakaoMobility, a Korean mobility as a service (MaaS) platform service company, signed an agreement to partner for joint participation in the K-UAM Grand Challenge. The agreement covers the planned purchase by KakaoMobility of up to 50 of Archer’s Midnight eVTOL aircraft worth up to an approximate value of $250M, including pre-delivery payments, AviationPros reports. Continue reading original article.
The Military & Aerospace Electronics take:
3 June 2024 - KakaoMobility plans to own and operate Archer’s Midnight aircraft in Korea, offering electric air taxi flights to its over 30M registered users on its Kakao T mobile app starting as early as 2026. KakaoMobility and Archer anticipate starting the service in Seoul, one of the most congested cities in the world, where the average commuter spends nearly 90 minutes per day stuck in traffic.
KakaoMobility, along with its consortium partners LG UPlus Corp. and GS E&C, have chosen Archer as their eVTOL aircraft partner to ensure they reach their goal of conducting public demonstration flights with eVTOL aircraft in the country in late 2024. KakaoMobility will pay $7M in 2024 to Archer as the first installment to help fund early commercialization efforts in Korea, with a second installment in Q1 2025.
Christopher SungWook Chang, Senior Vice President of KakaoMobility, said: “Our partnership with Archer is a leap forward for urban mobility. We can’t wait to debut Archer’s Midnight Aircraft at the K-UAM Grand Challenge in 2024 as a commitment to transforming the daily commute for millions of Kakao T users. The vision is clear – reduce the hours lost in traffic and elevate everyday travel with an electric air taxi service that features Archer’s Midnight aircraft.”
Related: Archer receives Part 145 Certification from the FAA
Related: Archer's futuristic Midnight air taxi completes phase 1 flight tests
Related: NASA and Archer Aviation sign agreement for energy storage for AAM and space
Jamie Whitney, Senior Editor
Military + Aerospace Electronics
