LOS ANGELES (REUTERS) - Archer Aviation unveiled its first electric flying taxi "Maker" in a Tesla-style debut in Los Angeles on Thursday (June 10) as an increasing number of investors and aviation companies pile into the hot but yet-to-be-approved urban air mobility space.
Interest in zero-emission aircraft that take off and land like helicopters but fly like planes is growing as aerospace companies look for new markets and face pressure to help decarbonise their industry though the battery-operated vehicles.
Maker's debut, staged at a hangar using XR (extended reality) technology to simulate a ride, followed news on Thursday of two separate deals involving electric Vertical Take-Off and Landing (eVTOL) aircraft companies based in Britain and Brazil.
Archer's aircraft does not yet fly commercially but it mounted an extravagant show under Mr Kenny Taht, a new chief creative officer who has decades of experience in experiential design and television production, to attract attention.
Archer expects Maker's commercial launch in 2024 in Los Angeles and Miami and is in the process of certifying the piloted four-passenger aircraft with the Federal Aviation Administration (FAA), co-founder and co-chief executive Brett Adcock told Reuters.
"Our real goal is to make a mass market transportation solution in and around cities," Mr Adcock said.
The taxis can fly at 240kmh for distances up to 100km at an entry level price of between US$3 (S$4) and US$4 per passenger mile.
In New York City, for example, the 27km trip from John F. Kennedy International Airport to Manhattan would cost US$50 to US$70 and take around five to seven minutes versus 60 to 90 minutes in a car.
While experts estimate the eVTOL market to be worth billions over the next decade, it is not expected to immediately make money and the timing of regulatory approval remains uncertain.
Asked about the approval process, the FAA said: "The FAA can certify new technologies such as eVTOLs through its existing regulations. We may issue special conditions or additional requirements, depending on the type of project."
As the market hots up, so has competition.
Archer is currently embroiled in a legal battle with Boeing-backed competitor Wisk Aero, which has accused it of stealing trade secrets and infringing on its patents.
Archer last week asked a California court to dismiss the lawsuit and counter-sued Wisk for "false statements" regarding a separate criminal probe.
Archer plans to go public through a US$3.8 billion merger with blank-cheque company - a special purpose acquisition company - Atlas Crest and has an investment and US$1 billion order from United Airlines.
