$1bn flying air taxi startup receives green light to operate commercially

Archer Aviation is a leading electric aviation company that has just received the green light for commercial operations for an on-demand air taxi service.

It is a California-based company based in San Jose with a market capitalization of $1 billion.

Just recently, the company announced that it had received a Part 135 air carrier certification from the Federal Aviation Administration (FAA).

READ MORE! Residents of this town in California park airplanes in front of their houses instead of cars

This marks a major step forward for the flying car industry as Archer becomes the second firm to receive Part 135 certification from the FAA.

The first company was Joby Aviation which signed a deal with Dubai to launch air taxi services.

This will also help pave the way for vertical-take-off-and-landing aircraft or eVTOLs — often referred to as air taxis.

Soon flying cars and eVTOLS will become a common sight as you look up at the sky.

Archer Aviation still needs to obtain type certification for its Midnight air taxi.

The Midnight is a four-seat eVTOL aircraft (plus one pilot), with a range of up to 160km (100 miles).

Using tilt rotors, the air taxi could reach speeds of up to 241 km/h (150mph), on pure battery power.

However, these aircraft are not cheap as the US Air Force spent $142 million to get six of Archer’s Midnight eVTOL.

Archer Aviation air taxi service vision

The aviation company also hopes to transform urban travel.

They plan to do so by replacing an hourlong commute with a 10-minute flight on its quiet, sustainable aircraft.

The company’s CEO Adam Goldstein previously said that a seat should cost about $100.

They aim to replace ride-share services between city centers and airports.

Over the years, we have seen many air taxis and flying cars, but Archer may be the first company to make the vision of the future a reality.