Latest news with #LaunchEdition
Business Insider
3 days ago
- Business
- Business Insider
‘Padding the Coffers Ahead of Lift Off,' Says Canaccord About Archer Aviation Stock
Archer Aviation (NYSE:ACHR) may have ruffled some feathers with news of dilution, but raising capital is often a necessary step – especially, pardon the pun, for companies looking to get projects off the ground. Confident Investing Starts Here: As it prepares to participate in the White House's newly announced eVTOL Integration Pilot Program (eIPP), Archer last week announced an $850 million private placement. It raised $817.1 million in net proceeds by selling 85 million shares of Class A common stock to institutional investors at $10 per share. The offering should lift Archer's cash reserves to around $1.8 billion – among the highest in the industry – based on its 1Q25 ending balance. The new funds are expected to support accelerated manufacturing and certification efforts tied to the eIPP. Canaccord analyst Austin Moeller thinks Archer's 'timely capital infusion' underscores the significance of Trump's executive order aimed at fast-tracking eVTOL deployment in the U.S. The eIPP, a key provision within the Unleashing American Drone Dominance EO, establishes a training program to showcase five U.S.-based eVTOL or UAM (urban air mobility) projects on an 'accelerated timeline' ahead of the 2028 LA Olympics. The Department of Transportation has 180 days to select the five aircraft designs. While dilutive and likely to raise questions about cash use, Moeller points out that the capital raise 'financially positions Archer Aviation to be a leader in US eVTOL aircraft deployment at key US airports (Newark, Chicago O'Hare) via the eIPP, in addition to providing a substantial capital backstop as manufacturing operations ramp in Covington, GA, for both commercial eVTOL passenger aircraft and hybrid-VTOL tactical drones.' With an estimated FY25 cash burn of around $466 million, Archer now has a 'significant runway' to scale up manufacturing over the next few years, which should also pave the way for revenue or cash deposits from its international 'Midnight Launch Edition' program. Meanwhile, on Monday Archer announced that it has partnered with PT. Industri Ketahanan Nasional (IKN) to deploy an initial fleet of its Midnight aircraft in Indonesia, the third country tapped for its 'Launch Edition' program. Archer has previously announced Launch Edition deployments in the UAE through a partnership with Abu Dhabi Aviation, and in Ethiopia via Ethiopian Airlines. Against this backdrop, Moeller rates ACHR shares a Buy, although to account for the equity dilution, his price target goes from $13.5 to $13. Still, there's a potential upside of 25% from current levels. (To watch Moeller's track record, click here) 3 other analysts also take a bullish stance on ACHR and with an additional 2 Holds, the stock claims a Moderate Buy consensus rating. The average target clocks in at $11.75, implying shares will post growth of 13% in the months ahead. (See ACHR stock forecast) To find good ideas for stocks trading at attractive valuations, visit TipRanks' Best Stocks to Buy, a tool that unites all of TipRanks' equity insights.
Yahoo
4 days ago
- Business
- Yahoo
Archer Announces Third "Launch Edition" Partner, Striking Deal to Deploy Midnight Aircraft in Indonesia
Archer and PT. Industri Ketahanan Nasional (IKN) signed an agreement covering plans to deploy an initial fleet of Midnight aircraft in Indonesia under Archer's Launch Edition program, valued at up to $18M1 In addition to air taxi services, the program will also explore a range of complementary use cases, including commercial and military logistics and environmental surveillance. The agreement also includes the planned purchase by PT. IKN of up to 50 Midnight aircraft, valued at up to $250M2, for deployment in Indonesia to support plans to scale air taxi services across the country The companies intend to work closely with the Directorate General of Civil Aviation of Indonesia (DGCA) to shape the regulatory framework to enable the Launch Edition program and then operate a safe, efficient air taxi service. PARIS, June 16, 2025--(BUSINESS WIRE)--Archer Aviation Inc. (NYSE: ACHR) announced today that it has signed an agreement with PT. IKN covering plans to deploy an initial fleet of Midnight aircraft in Indonesia, making it the third country in which Archer is planning to deploy Midnight under its "Launch Edition" program. PT. IKN is an Indonesian company dedicated to advancing national resilience through innovation in strategic industries, including advanced manufacturing, infrastructure and sustainable technologies through partnerships with government and industry to strengthen local capabilities and support long-term national development. As with Archer's other Launch Edition partners, the goal of this program is to establish a pragmatic and repeatable commercialization playbook to deploy Midnight in early adopter markets in advance of type certification in the U.S. In addition to Indonesia, Archer has already announced planned Launch Edition program deployments in the UAE, with Abu Dhabi Aviation, and Ethiopia, with Ethiopian Airlines. The program aims to establish local operational capabilities and launch commercial air taxi services in the country as soon as possible. In addition to air taxi services, the parties intend to explore a range of complementary use cases such as logistics and environmental surveillance, including in support of the development of Indonesia's new capital city, Ibu Kota Nusantara (IKN). The scope of Archer's planned Launch Edition program with PT. IKN includes the deployment of an initial fleet of Midnight Launch Edition aircraft to Indonesia with a supporting team of Archer pilots, technicians and engineers. Archer also plans to provide backend operational software and front-end booking applications to help power operations during the program. The partners intend to collaborate closely with the DGCA to help build necessary regulatory frameworks and improve existing infrastructure to enable the Launch Edition program and subsequent safe entry into service. The Launch Edition deployment comes with plans for an aircraft order by PT. IKN of up to 50 Midnight aircraft, valued at up to $250M2, with the goal of commercializing and scaling the Indonesian market after establishing early operations. Yudiansah Yosal, PT. IKN's Chairman said, "At PT. IKN we see enormous benefit in bringing new technologies to Indonesia. Our goal is to deploy Archer's Midnight aircraft not only for passenger mobility throughout our many islands but also for environmental oversight use cases. We're excited to bring this innovation to Indonesia and to work together with Archer to build a sustainable and scalable air mobility ecosystem." Major General TNI Piek Budyakto Pangdam IX / Udayana said, "eVTOL aircraft like Archer's Midnight offer capabilities for both civilian and military use cases. In the civilian sector, these aircraft can potentially be used for transportation, rescue and various other purposes such as delivery of goods and air taxi transport. On the military side, they can potentially be used for medical evacuation, delivery of supplies and special operations in difficult to reach areas. The partnership between Archer and PT. IKN is in line with our vision to work towards a more adaptive and modern military infrastructure that embraces innovative technologies." Archer Founder and CEO Adam Goldstein said, "The level of demand for our 'Launch Edition' program continues to grow. Indonesia represents a tremendous opportunity for our Midnight aircraft both in the near and long-term, with thousands of islands, a booming tourism sector and the development of a new capital city, Ibu Kota Nusantara. We look forward to working together to demonstrate how Midnight can support missions in the country." About Archer Archer is designing and developing the key enabling technologies and aircraft necessary to power the future of aviation. To learn more, visit About PT. Industri Ketahanan Nasional PT. Industri Ketahanan Nasional is a strategic enterprise committed to strengthening Indonesia's resilience through innovation in advanced manufacturing, sustainable infrastructure, and critical technologies. As a trusted partner of both government and private sector entities, they focus on developing and delivering high-impact locally driven solutions that enhance Indonesia's long-term economic, security and industrial self sufficiency. Source: Archer AviationText: ArcherIR Archer Forward-Looking Statements This press release contains forward looking statements regarding Archer's business plans and expectations, including statements regarding Archer's aircraft performance, the pace at which Archer intends to develop, certify, manufacture and commercialize its aircraft, the expected benefits, amount and timing of anticipated revenue and scalability of the "Launch Edition" program and associated deployment of aircraft, anticipated use cases for Archer's aircraft, potential value of its aircraft order with PT. IKN, business opportunities, planned infrastructure and operations in the customer's geographic regions, ability to attract customers, and international expansion. In addition, this press release refers to an agreement for the Launch Edition program that is conditioned on the future execution by the parties of additional binding definitive agreements incorporating the terms outlined in this agreement, which definitive agreements may not be completed or may contain different terms than those set forth in this agreement. These forward-looking statements are only predictions and may differ materially from actual results due to a variety of factors. The risks and uncertainties that could cause actual results to differ from the results predicted are more fully detailed in Archer's filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K, which is or will be available at In addition, please note that any forward-looking statements contained herein are based on assumptions that Archer believes to be reasonable as of the date of this press release. Archer undertakes no obligation to update these statements as a result of new information or future events. ____________________ 1 Our agreement with this Launch Edition program partner remains conditional, subject to the execution of further definitive agreements and the satisfaction of certain conditions. 2 Aircraft orders remain conditional, subject to the execution of further definitive agreements and the satisfaction of certain conditions. Order values represent the Company's estimate based on an indicative $5M per aircraft price. View source version on Contacts Archer Media Contacts The Brand Amp - Archer@ Sign in to access your portfolio
Business Wire
4 days ago
- Business
- Business Wire
Archer Announces Third 'Launch Edition' Partner, Striking Deal to Deploy Midnight Aircraft in Indonesia
PARIS--(BUSINESS WIRE)--Archer Aviation Inc. (NYSE: ACHR) announced today that it has signed an agreement with PT. IKN covering plans to deploy an initial fleet of Midnight aircraft in Indonesia, making it the third country in which Archer is planning to deploy Midnight under its 'Launch Edition' program. PT. IKN is an Indonesian company dedicated to advancing national resilience through innovation in strategic industries, including advanced manufacturing, infrastructure and sustainable technologies through partnerships with government and industry to strengthen local capabilities and support long-term national development. As with Archer's other Launch Edition partners, the goal of this program is to establish a pragmatic and repeatable commercialization playbook to deploy Midnight in early adopter markets in advance of type certification in the U.S. In addition to Indonesia, Archer has already announced planned Launch Edition program deployments in the UAE, with Abu Dhabi Aviation, and Ethiopia, with Ethiopian Airlines. The program aims to establish local operational capabilities and launch commercial air taxi services in the country as soon as possible. In addition to air taxi services, the parties intend to explore a range of complementary use cases such as logistics and environmental surveillance, including in support of the development of Indonesia's new capital city, Ibu Kota Nusantara (IKN). The scope of Archer's planned Launch Edition program with PT. IKN includes the deployment of an initial fleet of Midnight Launch Edition aircraft to Indonesia with a supporting team of Archer pilots, technicians and engineers. Archer also plans to provide backend operational software and front-end booking applications to help power operations during the program. The partners intend to collaborate closely with the DGCA to help build necessary regulatory frameworks and improve existing infrastructure to enable the Launch Edition program and subsequent safe entry into service. The Launch Edition deployment comes with plans for an aircraft order by PT. IKN of up to 50 Midnight aircraft, valued at up to $250M 2, with the goal of commercializing and scaling the Indonesian market after establishing early operations. Yudiansah Yosal, PT. IKN's Chairman said, 'At PT. IKN we see enormous benefit in bringing new technologies to Indonesia. Our goal is to deploy Archer's Midnight aircraft not only for passenger mobility throughout our many islands but also for environmental oversight use cases. We're excited to bring this innovation to Indonesia and to work together with Archer to build a sustainable and scalable air mobility ecosystem.' Major General TNI Piek Budyakto Pangdam IX / Udayana said, 'eVTOL aircraft like Archer's Midnight offer capabilities for both civilian and military use cases. In the civilian sector, these aircraft can potentially be used for transportation, rescue and various other purposes such as delivery of goods and air taxi transport. On the military side, they can potentially be used for medical evacuation, delivery of supplies and special operations in difficult to reach areas. The partnership between Archer and PT. IKN is in line with our vision to work towards a more adaptive and modern military infrastructure that embraces innovative technologies.' Archer Founder and CEO Adam Goldstein said, 'The level of demand for our 'Launch Edition' program continues to grow. Indonesia represents a tremendous opportunity for our Midnight aircraft both in the near and long-term, with thousands of islands, a booming tourism sector and the development of a new capital city, Ibu Kota Nusantara. We look forward to working together to demonstrate how Midnight can support missions in the country.' About Archer Archer is designing and developing the key enabling technologies and aircraft necessary to power the future of aviation. To learn more, visit About PT. Industri Ketahanan Nasional PT. Industri Ketahanan Nasional is a strategic enterprise committed to strengthening Indonesia's resilience through innovation in advanced manufacturing, sustainable infrastructure, and critical technologies. As a trusted partner of both government and private sector entities, they focus on developing and delivering high-impact locally driven solutions that enhance Indonesia's long-term economic, security and industrial self sufficiency. Source: Archer Aviation Text: ArcherIR Archer Forward-Looking Statements This press release contains forward looking statements regarding Archer's business plans and expectations, including statements regarding Archer's aircraft performance, the pace at which Archer intends to develop, certify, manufacture and commercialize its aircraft, the expected benefits, amount and timing of anticipated revenue and scalability of the 'Launch Edition' program and associated deployment of aircraft, anticipated use cases for Archer's aircraft, potential value of its aircraft order with PT. IKN, business opportunities, planned infrastructure and operations in the customer's geographic regions, ability to attract customers, and international expansion. In addition, this press release refers to an agreement for the Launch Edition program that is conditioned on the future execution by the parties of additional binding definitive agreements incorporating the terms outlined in this agreement, which definitive agreements may not be completed or may contain different terms than those set forth in this agreement. These forward-looking statements are only predictions and may differ materially from actual results due to a variety of factors. The risks and uncertainties that could cause actual results to differ from the results predicted are more fully detailed in Archer's filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K, which is or will be available at In addition, please note that any forward-looking statements contained herein are based on assumptions that Archer believes to be reasonable as of the date of this press release. Archer undertakes no obligation to update these statements as a result of new information or future events.
Forbes
6 days ago
- Automotive
- Forbes
You May Hate Elon But Tesla's 2025 Model Y Is Still The EV SUV To Beat
The front of the New Tesla Model Y has been significantly changed. The Tesla Model Y was the bestselling car in the world in 2023 and 2024, beating out the Toyota cars (mostly the Corolla) that had dominated the global market for years beforehand. But since then, there have been worrying sales figures, particularly from Canada and Europe. Many commentators blame Elon Musk's controversial association with the Trump presidency in the USA. But the Model Y was also in between the original release and a major update. I tested the New Tesla Model Y to see if it can revive the company's fortunes. Buying a car isn't usually a political choice, but the Tesla brand has become divisive thanks to Elon Musk's stint with the US government and his opinions expressed on X, formerly known as Twitter. While most pundits are citing this as the reason for reduced sales, the Tesla Model Y hadn't had an update since it was launched in 2020. Coincidentally with the sales dip, Tesla has been running down stock of the old Model Y over the last few months before the new car arrives, which is this month. The rear lightbar reflects off the body panel. There were limited Launch Edition cars on sale before that, which was what I borrowed for a week, but the main stock was only just arriving on the road at the time of writing. I've now begun to see a few in the wild in the UK, so deliveries have begun. The Launch Edition, which you can no longer buy, is essentially the Long Range All-Wheel Drive with the acceleration boost pre-applied and some additional bonuses such as privacy glass. Other than the Long-Range All-Wheel Drive, there's still a Long-Range Rear-Wheel Drive and a standard Rear-Wheel Drive to choose from. The exterior design changes are more noticeable than with the Tesla Model 3 facelift. The front lights are thin and Cybertruck-like, moving away from the froglike look of the original car. These are still matrix LEDs, a great technology that only dips sections directly facing oncoming traffic. The rear lights have become a single line, too, and take a novel approach. The red lightbar reflects off the rear panel rather than projecting directly, accentuating a generally more futuristic appearance. However, the side profile has barely changed, and the overall practicality of the Y remains the same. The car was designed to maximize interior space, so there's plenty of room for front and rear passengers. There have been some tweaks here. When the new Tesla Model 3 came out at the end of 2023 (which the company claims isn't called Highland despite everyone else calling it that), its lack of an indicator stalk (like the Model S Plaid) garnered criticism. Sensibly, Tesla has kept the indicator stalk on the New Model Y. For the new Model Y, an indicator stalk remains, although the drive modes are now operated with the LCD panel, like the latest Model 3, rather than a shift stick. There are buttons above the rearview mirror available just in case the LCD panel becomes unavailable. The front seats are now ventilated as well as heated. For rear seat passengers, the small LCD panel introduced with the new Model 3 and Model S Plaid has been added, so passengers in the back can control their own air conditioning, watch streaming media and play games, although you will probably won't want to use the latter if you get travel sick. However, although Tesla Model 3 and Y interiors have gradually improved, they are still quite spartan. You might like this, but many prefer a more traditional premium finish and instrumentation, which BMW has the upper hand with. Chinese midsize SUVs are offering plusher upholstery, too, such as the BYD Sealion 7, Zeekr 7X, and Smart #5. The New Model Y continues the original's class-leading luggage space, with 854 liters even with the rear seats up. There's a sizeable 117-liter frunk, too, which is large enough for an overnight bag on its own, plus a big space under the boot floor. There's another upgrade here, because dropping the rear seats forward is powered. Buttons lower them with a 60/40 split, increasing the capacity to 1,869 liters, and these buttons will also bring the seats back up. You can drop the middle seat forward on its own, but this can only be achieved manually. The Y will tow 1,600kg braked, too, with the £1,090 towbar option. One thing that hasn't really changed with the new Model Y is the performance. Even the basic Rear-Wheel Drive takes just 5.6 seconds to hit 60mph, while the Long Range version drops this to 5.4 seconds. The Long Range All-Wheel Drive takes 4.6 seconds, and with the acceleration boost of the Launch Edition it's just 4.1 seconds. There are faster SUV options, but not that many, and generally more expensive. Tesla has improved the sound protection for the new Model Y, however. This is a quieter car on highways than previous versions. The Model Y wasn't famous for its ride quality, and this is another area of enhancement. The suspension is now much more forgiving of poor road surfaces, although there is a little more softness to the handling as a result. The New Tesla Model Y doesn't look that different from the side. Tesla has always done well with range and efficiency. Although there are now quite a few cars that go further, most use bigger batteries to do so. The battery sizes haven't changed since the previous version of the Y, although Tesla doesn't officially state what these are. The basic RWD car is believed to have 62.5kWh (net) while the Long Range options have 75kWh (net). However, there have been some aerodynamic improvements with the New Model Y, which have increased the efficiency. The original Long Range All-Wheel-Drive promised 331 WLTP miles, but the new version goes to 364 miles, or 353 with 20in wheels like my review car. The Rear-Wheel Drive car with the smaller battery can still manage 311 WLTP miles, while the Long-Range Rear-Wheel Drive car achieves 387 miles, which is impressive for a car with a 75kWh battery. I drove the New Model Y from London to Devon and back, mostly using motorways. Travelling efficiently at the speed limit I managed 3.4 miles per kWh, although this dropped to 2.8 miles per kWh with more vigorous A-road driving. Still, you can get 250 miles easily out of the Long Range All-Wheel Drive car if your driving is not too boisterous, and there's the superb Tesla Supercharger network to make long distance journeys easy. My trip to Devon was simple, with plenty of charging options along the way. The Tesla Model Y's price hasn't changed considerably with the update. In the UK, the Rear-Wheel Drive is £44,990 (€44,990 in Europe, not currently available in the US), the same as the old version. The Long Range option is £48,990 (€46,990 in Europe; $44,990 in the US), which is more expensive than it was before, and the Long Range All-Wheel Drive £51,990 (€52,990 in Europe, $48,990 in the US), which is a bit less than previously. There are cheaper options, but many more expensive. In its class, the Model Y is decently priced. The overall appearance is modernized but still a Model Y. It's certainly true that the clear lead Tesla enjoyed has narrowed. Competitors are closing in, particularly those from China, and a few surpass in some areas. The Smart #5 offers faster charging, while the Zeekr 7X offers a distinctly more premium feel. But neither are as efficient as the Model Y. Combining practicality, price, performance, range and efficiency with Tesla's superior connected technology, all in one package, the Model Y still edges ahead. Refusing to buy one because of Elon Musk is a personal choice, and there are plenty of great alternatives now. But they're not quite as good as the Tesla Model Y overall – not yet, anyway.
Yahoo
6 days ago
- Business
- Yahoo
Archer Aviation (ACHR) Plunges as $850M Share Sale Dilutes Stock
June 13 - Archer Aviation (NYSE:ACHR) shares slid about 15% on Friday after the company sold $850 million of stock to support new infrastructure and an AI-based aviation software platform. The eVTOL maker sold 85 million shares at $10 each, lifting its pro forma liquidity to roughly $2 billion. The proceeds will back its Launch Edition program, including plans to provide air taxi services at the 2028 Los Angeles Olympics. Warning! GuruFocus has detected 2 Warning Sign with ACHR. This follows an executive order establishing a U.S. pilot program for electric vertical takeoff and landing vehicles, which had earlier lifted Archer and rival Joby Aviation (NYSE:JOBY). Archer said it will deploy AI-driven flight management tools and expand infrastructure domestically and overseas. The company plans to display its Midnight eVTOL at the Paris Air Show, with the United Arab Emirates as an initial market. Archer highlighted its strengthened balance sheet but investors weighed dilution from the share sale against growth prospects. While interest in eVTOL services is rising amid urban mobility initiatives, regulatory and safety challenges persist. Market participants will watch execution on infrastructure build-out and technology rollout closely. This article first appeared on GuruFocus. Sign in to access your portfolio
