Archer Aviation Inc. (ACHR) shares climbed 5.97% in pre-market trading on Thursday, buoyed by the company's announcement of a "Launch Edition" commercialization program for its Midnight electric vertical take-off and landing (eVTOL) aircraft.
The program aims to establish a pathway for customers to reserve early production slots for the Midnight aircraft, which is designed for urban air mobility applications. Archer plans to work closely with Abu Dhabi Aviation, the exclusive partner for this program in the United Arab Emirates, to secure initial orders and support the aircraft's certification and entry into service.
Investors appear optimistic about Archer's progress in bringing its eVTOL technology to market, driving the pre-market surge in the company's stock price. The "Launch Edition" program represents a crucial step towards commercialization, potentially unlocking future revenue streams for Archer Aviation.
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