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Archer Aviation (ACHR) and Joby Aviation (JOBY) are climbing 14% and 10%, respectively today. Yesterday Archer disclosed that it had received a certificate of occupancy for its factory in Georgia, while Joby reported today that the Federal Aviation Administration had completed a test of its aircraft.
The companies are developing electric vertical take-off and landing aircraft, which are popularly known as eVTOLs.
A futuristic electric vertical takeoff and landing aircraft soaring through the sky.
Yesterday Archer disclosed that it had earlier in the week received a certificate of occupancy for its 400,000-square-foot aircraft factory. Automaker Stellantis (STLA), Archer's partner, will also be involved with the management of the facility, Archer indicated. Specifically, the two companies are negotiating a deal that will involve Stellantis collaborating "with Archer as its exclusive contract manufacturer to mass produce Archer’s Midnight eVTOL aircraft at this facility.," Archer stated. Additionally, Stellantis will provide Archer with "capital, advanced manufacturing technology and expertise and experienced personnel."
The two firms intend to manufacture 650 aircraft each year at the facility by 2030.
As for Joby, the eVTOL maker disclosed that it had carried out a Federal Aviation Administration (FAA) test that's in a category called Type Inspection Authorization. Specifically, FAA pilots evaluated the aircraft's " flight safety using an FAA-conforming flight deck in a Joby simulator." the company reported.
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