Archer Aviation Unveils New Commercial Aircraft in Partnership With Anduril
Archer's new autonomous aircraft could open a large commercial market, but investors shouldn't confuse an exciting reveal for revenue.
Overview
Archer Aviation(NYSE:ACHR) has spent years developing an electric aircraft designed to carry four passengers across congested cities. Today, July 22, it just unveiled an aircraft that won’t carry any humans, not even a pilot.
“Halo” is its name, and it’s the commercial sibling of “Thunder," the defense aircraft Anduril unveiled earlier this week. Despite their different missions, Halo and Thunder share the same machinery: a hybrid-electric powertrain and two enormous tilt rotors that lift them vertically from the ground, then turn forward and pull them through the air like conventional airplanes.
Details
The unveiling is one of Archer’s biggest developments of the year. And yet, if you looked only at Archer’s stock, you might have thought today was just another ordinary day. As of writing, Archer is down roughly 1%.
Source
Originally published at www.fool.com.