Archer Aviation is an American aerospace company founded in 2018 and based in San Jose, California, specializing in electric vertical takeoff and landing (eVTOL) aircraft. Its flagship model, Midnight, is a piloted, four-passenger air taxi designed for short urban routes with low noise and zero emissions. Archer focuses on developing scalable urban air mobility solutions and has partnered with major companies such as United Airlines to prepare for commercial operations. By combining aerospace engineering and electric propulsion, Archer aims to make fast, sustainable air travel accessible within cities.
Figure’s controversy could ripple beyond the company itself, fueling investor fears that hype is outpacing reality and intensifying concerns that an AI bubble may be forming.
In the 2010s, a wave of startups emerged, each racing to bring air taxis to major cities around the world. Today their plans are coming to fruition.