Electric Vertical Takeoff and Landing (eVTOL) aircraft developer Archer Aviation is continuing to lay the global groundwork for commercial operations in a new territory: South Korea. The next-generation aircraft specialist has announced a new partnership with Korea’s leading mobility-as-a-service company, KaKaoMobility, to participate in the country’s Grand Challenge and bring eVTOL travel to the region quickly.
Archer Aviation ($ACHR) is one of the more popular eVTOL developers in a growing segment of emissions-free air travel that continues to wield momentum as a global player in the space. With airworthiness certification from the FAA already in place and investments from big names like United, Stellantis, and even the US Air Force, Archer has (literally) taken to the skies and expanded its brand outward beyond its headquarters in Santa Clara, California.
In the fall of 2023, mere days after announcing a deal to launch eVTOL air taxi services across the United Arab Emirates, Archer Aviation completed a maiden voyage in its flagship Midnight aircraft in its native US.
As Archer continues the Midnight’s “for credit” testing process to achieve commercial operation authorization with the FAA this year, it has continued to secure partnerships in other countries to bring advanced air mobility (AAM) to the masses. Since the initial eVTOL flight, Archer has signed deals to bring air taxi operations to India while most recently expanding its plans in the UAE in a new deal worth an estimated $500 million.
Today, Archer shared additional expansion plans in Asia, securing a fresh partnership in South Korea to help the country reach its ambitious plans to bring commercial eVTOL operations to the region by 2026. With a payment plan already in place, those efforts are expected to begin later this year.
Archer and KaKaoMobility to help bring eVTOLs to Korea
Per an update from Archer Aviation early this morning, it has signed an agreement with KaKaoMobility to jointly participate in the K-UAM Grand Challenge – a public-private demonstration held in the country to garner public support for eVTOL technology.
As part of the agreement, KaKaoMobility has agreed to pay Archer $7 million in 2024 to begin developing and establishing commercial eVTOL operations in Korea, followed by a second payment installation expected to follow in early 2025. The agreement also entitles KaKaoMobility to the purchase of up to 50 Archer Midnight eVTOLs worth approximately $250 million. Pre-delivery payments are also expected in 2025 following the Grand Challenge.
However, before then, Archer and KaKaoMobility intend to use the 2024 Grand Challenge as a public stage to demonstrate how eVTOL aircraft can transform daily commutes in Korea. The demonstrations will take place beside South Korea’s Ministry of Land, Infrastructure and Transport (MOLIT), which is hosting the event and has vowed to help commercialize urban air mobility (UAM) by the mid-2020s. Archer’s chief commercial officer, Nikhil Goel, elaborated:
Archer is expanding its international launch strategy to South Korea through this landmark partnership between Archer Aviation and KakaoMobility. Together, we are committed to revolutionizing transportation with Archer’s eVTOL aircraft, ushering in a future of cleaner, faster, and more efficient travel between and within Korean cities.
Looking ahead, KaKaoMobility intends to own and operate Archer’s eVTOL technology in South Korea and offer air taxi rides to its 30 million current app users as early as 2026. Service is expected to begin in the capital of Seoul, where, according to Archer, the average commuter spends roughly 90 minutes per day stuck in road traffic.
Archer says it will work alongside KaKaoMobility with a goal to conduct public demonstration flights in Korea by late 2024. The K-UAM Grand Challenge is currently accepting applicants and will allow five to demo their technology this coming December.
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National Grid Renewables has broken ground on its 100 MW Apple River Solar Project in Polk County, Wisconsin.
The Wisconsin solar farm, which will use US-made First Solar Series 6 Plus bifacial modules, will be constructed by The Boldt Company, creating 150 construction and service jobs. Apple River Solar will generate over $36 million in direct economic benefits over its first 20 years.
Once it comes online in late 2025, Apple River Solar will supply clean energy to Xcel Energy, which serves customers throughout the Upper Midwest. According to National Grid Renewables, the solar farm will generate enough energy to power around 26,000 homes annually. It will also offset about 129,900 metric tons of carbon dioxide emissions each year – equivalent to taking 30,900 cars off the road.
“We are excited to see this project begin as it underscores our dedication to delivering clean, reliable and affordable energy to our customers,” said Karl Hoesly, President, Xcel Energy-Wisconsin and Michigan. “This project is an important step in those goals while bringing significant economic benefits to Polk County and the local townships.”
Electrekreported in February that Xcel Energy, Minnesota’s largest utility, expects to cut more than 80% – and possibly up to 88% – of its emissions by 2030, putting it on track to hit Minnesota’s goal of net zero by 2040. It also says it’s on track to achieve its clean energy goals for all the Upper Midwest states it serves – Minnesota, Wisconsin, North Dakota, South Dakota, and Michigan.
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Tesla has announced that it will finally deliver 500 kW charging as it is about to install its long-awaited V4 Supercharger cabinets.
The rollout of Supercharger V4 has been a strange one, to say the least.
Tesla has been deploying the new charging stations for two years and calling them “Supercharger V4”, but it has only been deploying the charging stalls.
Supercharger stations are made of two main parts: the stalls, which are where the charging cable is located, and the cabinets, which are generally located further back and include all the power electronics.
For all these new “Supercharger V4”, Tesla was actually using Supercharger V3 cabinets. This has been limiting the power output of the charging stations to 250 kW – although
Today, Tesla officially announced its “V4 Cabinet”, which the automaker claims will enable of “delivering up to 500kW for cars and 1.2MW for Semi.”
Here are the main features of the V4 Cabinet as per Tesla:
Faster charging: Supports 400V-1000V vehicle architectures, including 30% faster charging for Cybertruck. S3XY vehicles enjoy 250kW charge rates they already experience on V3 Cabinet — charging up to 200 miles in 15 minutes.
Faster deployments: V4 Cabinet powers 8 posts, 2X the stalls per cabinet. Lower footprint and complexity = more sites coming online faster.
Next-generation hardware: Cutting-edge power electronics designed to be the most reliable on the planet, with 3X power density enabling higher throughput with lower costs.
Tesla reports that its first sites with the new V4 Cabinets are going into permitting now. The company expects its first sites to open next year.
We recently reported about Tesla’s new Oasis Supercharger project, which includes larger solar arrays and battery packs to operate the charging station mostly off-grid.
Early in the deployment of the Supercharger network, Tesla promised to add solar arrays and batteries to all Supercharger stations, and Musk even said that most stations would be able to operate off-grid.
While Tesla did add solar and batteries to a few stations, the vast majority of them don’t have their own power system or have only minimal solar canopies.
Back in 2016, I asked Musk about this, and he said that it would now happen as Tesla had the “pieces now in place” with Supercharger V3, Powerpack V2, and SolarCity:
It took about 8 years, but it sounds like the pieces are now getting actually in place with Supercharger V4, Megapacks, and this new Oasis project.
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Hyundai has a new secret weapon it’s about ready to unleash. To revamp the brand in China and counter BYD’s surge, Hyundai is launching a new AI-powered EV next year. The new model will be Hyundai’s first dedicated electric car for the world’s largest EV market.
With the help of Haomo, a Chinese autonomous startup, Hyundai will launch its first EV equipped with generative AI. It will also be its first model designed specifically for China.
A Hyundai Motor official said (via The Korea Herald) the company is “working to load the software” onto the new EV model, “which will be released in the Chinese market next year.” The spokesperson added, “The level of autonomous driving is somewhere between 2 and 2.5.”
In comparison, Tesla’s Autopilot is considered a level 2 advanced driver assistance system (ADAS) on the SAE scale (0 to 5), meaning it offers limited hands-free features.
With Autopilot, you still have to keep your eyes on the road and hands on the steering wheel, or the system will notify you and eventually disengage.
Haomo’s system, DriveGPT, unveiled last spring, takes inspiration from the OpenAI’s popular ChatGPT.
The system can continuously update in real-time to optimize decision-making by absorbing traffic data patterns. According to Haomo, DriveGPT is used in around 20 models as it looks to play a bigger role in China.
Hyundai hopes new AI-powered EV boosts sales in China
Electric vehicle sales continue surging in China. According to Rho Motion, China set another EV sales record last month with 1.2 million units sold, up 50% from October 2023.
Over 8.4 million EVs were sold in China in the first ten months of 2024, a notable 38% increase from last year.
BYD continues to dominate its home market. According to Autovista24, BYD accounted for 32.9% of all PHEV and EV (NEV) sales in China through September, with over half of the top 20 best-selling EV models.
Tesla was second with a 6.5% share of the market, but keep in mind these numbers only include plug-in models (PHEV).
Like most foreign automakers, Hyundai is struggling to keep up with the influx of low-cost electric models in China. Beijing Hyundai’s sales have been slipping since 2017. Through September, Korean automaker’s share of the Chinese market fell to just 1.2%.
According to local reports, Hyundai is partnering with other local tech companies like Thundersoft, a smart cockpit provider, and others in China to power up its next-gen EVs
With its first AI-powered EV launching next year, Hyundai hopes to turn things around in the region quickly. The new model will be one of five to launch in China through 2026.
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