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SANTA CLARA, Calif. - Archer Aviation Inc. (NYSE:ACHR) announced Tuesday an exclusive collaboration with Karem Aircraft to access key aspects of Karem’s military-grade rotor and tiltrotor technologies for integration into Archer’s next-generation aircraft development. The eVTOL developer, currently trading at $7.46, has seen its stock price fluctuate considerably with a beta of 3.07, according to InvestingPro data.
The partnership gives Archer exclusive access to Karem’s tiltrotor technology, which has been validated by the U.S. Army, to accelerate development of a dual-use vertical takeoff and landing (VTOL) aircraft platform designed for both commercial and military applications.
This collaboration represents a significant addition to Archer’s strategy as it works to develop an autonomous, hybrid-propulsion aircraft. The company aims to create a multi-mission platform that combines modern autonomy, long-range hybrid-electric propulsion, and advanced aeromechanics.
"As we build the next generation of dual-use vertical lift aircraft, partnering with the pioneers who have shaped modern rotorcraft is essential," said Adam Goldstein, Archer Founder and CEO, according to the press release.
The partnership with Karem follows Archer’s recent technology acquisitions from Overair and Lilium, as well as an agreement to supply its proprietary electric powertrain to Anduril and EDGE Group for their Omen Autonomous Air Vehicle.
Karem Aircraft, founded in 2004 by Abe Karem, is known for developing the technology behind modern drones and for continued innovation in rotorcraft. Karem’s founder is credited with contributions to the Predator drone and A160 Hummingbird.
Archer states that the combined technologies are expected to enable an aircraft with speed, range, payload, and low-thermal and acoustic signatures necessary for operations in contested airspace.
The announcement is based on a press release statement from Archer Aviation.
In other recent news, Archer Aviation Inc. has been the focus of multiple developments. Canaccord Genuity raised its price target for Archer Aviation to $13.00, maintaining a Buy rating, following the company’s expansion into various aviation projects, including collaborations on eVTOL powertrains and AI-powered air traffic management tools. Cantor Fitzgerald reiterated its Overweight rating with a $13.00 price target, highlighting Archer’s progress with its Launch Edition Program and agreements with Abu Dhabi Aviation and the Abu Dhabi Investment Office. Meanwhile, Goldman Sachs initiated coverage with a Neutral rating and an $11.00 price target, noting Archer’s strides in certification efforts for its Midnight aircraft.
Archer Aviation is also facing legal challenges, as Joby Aero filed a complaint alleging trade-secret misappropriation and other claims related to Archer’s hiring of a former Joby employee. In response, Archer disputes these allegations and plans to defend itself vigorously. Additionally, Archer has entered a partnership with The Helicopter Company in Saudi Arabia to test and potentially integrate eVTOL aircraft, aiming to evaluate performance and operational feasibility in real-world conditions. These developments indicate a period of significant activity for Archer Aviation as it continues to advance its projects and navigate legal and market landscapes.
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