On Nov. 13, Archer Aviation (NYSE:ACHR) will debut its Midnight electric vertical take-off and landing (eVTOL) aircraft at the Dubai Air Show. The event, which will end on Nov. 17, will showcase the Midnight as the featured eVTOL aircraft on display in the Advanced Air Mobility (AAM) Pavilion. Additionally, Archer will be featured at Mubadala Investment Company’s (MIC) booth. MIC subsidiary Mubadala Capital had previously invested in the company.
At the show, founder and CEO Adam Goldstein will deliver a keynote during the opening ceremony and discuss the company’s plans to provide the United Arab Emirates (UAE) with air taxis by 2026.
ACHR Stock: Archer to Debut Midnight at the Dubai Air Show
Various high-level figures from the UAE will also be present at the show, including members of the UAE’s Royal Family and its General Civil Aviation Authority. This could aid Archer in increasing the presence of its products and services.
Archer appears to have a close relationship with the UAE. In October, the company announced that it had held a signing ceremony with the Abu Dhabi Investment Office (ADIO) to commemorate a collaboration to support the launch of Archer’s air taxi service in the UAE. The two parties signed a memorandum of understanding (MOU) that outlined Archer’s plans to bring air taxis to the UAE. Furthermore, Archer agreed to build an engineering Center of Excellence in order to support air taxi travel in the Middle East and to collaborate with manufacturing, maintenance and repair companies in Abu Dhabi.
“Through our asset management subsidiary Mubadala Capital, we have been an investor in Archer for several years,” said MIC Head of Value Creation Meera Al Suwaidi at the time. “We are looking forward to working alongside them for the debut of their Midnight aircraft at the Dubai Air Show later this year, and to continue discussions on further expanding our collaboration.”
Meanwhile, another ACHR stock catalyst is quickly approaching, with the company’s third-quarter earnings set to come out on Thursday, Nov. 9 after the market close. Wall Street analysts forecast revenue of $0 and an adjusted EPS loss of 30 cents for the period, although Archer announced last month that it had received “nearly $1M” from the U.S. Air Force.
On the date of publication, Eddie Pan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
