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Archer Aviation partners with KakaoMobility to bring eVTOL air taxis to South Korea

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Passenger eVTOL Aircraft

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May 30, 2024

Archer Aviation partners with KakaoMobility to bring eVTOL air taxis to South Korea

Partnerships

Archer Aviation Inc., an NYSE-listed eVTOL aircraft manufacturer, has signed an agreement with KakaoMobility, a leading mobility service platform in Korea, to jointly participate in the K-UAM Grand Challenge and KakaoMobility's acquisition of up to 50 of Archer's eVTOL mid-night aircraft with a total value of USD ~250 million.
KakaoMobility expects to start electric air taxi services in Korea with Archer's eVTOL aircraft for its 30+ million registered users on its Kakao T Mobile app, starting in 2026. The service will start in Seoul to help alleviate heavy traffic, and in late 2024, LPublic demonstration flights will take place.
KakaoMobility will pay Archer USD 7 million in 2024 to fund initial commercialization efforts in Korea, with a subsequent installment scheduled for Q1 2025.

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