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Archer Aviation partners with KakaoMobility to bring eVTOL air taxis to South Korea
Passenger eVTOL Aircraft
May 30, 2024
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Passenger eVTOL Aircraft

Passenger eVTOL Aircraft

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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